Australia had its monetary policy decisions this morning as much as been left unchanged as the central bank took a dovish approach to interest rate hikes sticking to its expectation that a 2024 rate hike could take place at the earliest.
As America celebrated their Memorial Day the markets lacked movement as most of the assets consolidated throughout the day as the lack of liquidity was evident in the markets, with Australia’s rate statements out of the way, OPEC has pending meetings today as they discuss production cuts or increases for the coming months.
Gold pushed higher this morning as it broke out of its range to trade above 1910 before the European open, Silver similarly broke above 28.13 to trade at 28.30 before the European open. Brent is also trading above $70 for the first time since March this year before OPEC meetings.
6:30am - RBA Rate Statement (AUD)
- Cash Rate (AUD)
All Day - OPEC-JMMC Meetings
4:00pm - ISM Manufacturing PMI (USD)
5:00pm - BOE Gov Bailey Speaks (GBP)
Due to deliver a speech titled "Building a Finance System Fit for a Clean, Resilient and Just Future" at an online event hosted by Reuters. Audience questions expected