Thursday’s Asia Pacific trading session may see a broadly “risk-on” tone. On top of the measures from the ECB, the U.S. Senate signed off on the coronavirus relief bill which is likely to get signed into law by President Donald Trump. At 3:30 GMT the Reserve Bank of Australia will host an inter-meeting rate decision which will be followed by a press conference from Governor Philip Lowe.
On top of what could be further rate cuts, the markets seem to be expecting that the RBA could launch unconventional tools of its own. As such, the Australian jobs report may be brushed aside. With that in mind, a combination of these developments may even offer a boost to the growth-linked Australian Dollar if the RBA inspires the ASX 200 to bounce. In these uncertain times, follow-through is however not a guarantee.
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