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Tuesday, February 7th
The AUD/USD loses its positions, gained on the back of RBA’s decision. Today, as it was expected, the RBA left its interest rate unchanged, while providing the market with neutral stance on the interest rates outlook. However, RBA members sounded more optimistic, stressing that Australian economy prospects remain positive in wake of improvements in the global economy. On the other hand, the pair lost its upside momentum and has reversed all its earlier gained positions, as returning demand for the US currency combined with sharp increase in Chinese iron-ore stockpiles are negatively influencing the pair. Looking ahead, traders will continue digesting recent events, while JOLTs Job Openings report will bring fresh directional impetus to the pair.
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