Looking ahead for the Australian dollar the unemployment data on Thursday and business and consumer confidence numbers early in the week will be setting the tone for rest of the week.
While it is largely expected the RBA will make no changes to its monetary policy, the traders will be looking forward to RBA’s commentary surrounding bond yields and purchases as that would be pivotal for interest rates.
Investors are currently in shoot first and asking questions later until more is known about the new variant, the investors are also nervous about whether we will even get a Christmas rally.
“At a time when the fierce competition in the key home loan market is hurting the banks' margins substantially, one can expect the financial sector to remain under pressure for quite some time.”
If we take an example of Indian history, it is usually categorised into three periods ancient, medieval and modern, each having its own historiography.
Both APRA and the Reserve Bank of Australia will remain cautious before undertaking any measures that may tighten the condition of the economy any further.