Technical Analyst & Trader @ Vikinsa
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Large Bounce in AUD/USD, But is it Enough?
Earlier this week, The Reserve Bank of Australia (RBA) had an emergency monetary policy meeting, in which they cut interest rates a record low of 25bps. In addition, the RBA announced the start of their own quantitative easing program. The government also put together a fiscal stimulus plan of nearly $10 billion dollars. However, that may not be enough as the Australian government is in the process of putting together an additional fiscal package which could be larger than the first fiscal package! Australia has also closed it’s borders to permanent residents and citizens. What does this mean to the value of the ... (full story)