Credit Suisse discusses its expectations for next week's RBA's policy meeting.
"Ahead of the 4 May decision, markets expect the bank to leave its cash rate and 3-year target at 0.10%. In its February meeting, the RBA introduced forward guidance indicating that the cash rate would remain unchanged until inflation is sustainably within the 2% to 3% target range, criteria which they do not expect to meet until "at least 2024". Markets largely do not anticipate a change in language on this front," CS notes.
"We see these monetary policy risks as reinforcing our expectation for AUDUSD to trade in a 0.7415- 0.7800 range for the time being," CS adds.