Australian weekly consumer confidence survey fell to 85.1 (prior 86.7) ...Middle East

prior week was 86.7

Perhaps the incoming RBA rate cut today will cheers folks up?

RBA Poised to Reduce Cash Rate by 25 Basis PointsWhat technical levels are in play for the AUDUSD through the RBA rate cut in the new day?Nomura expect a hawkish rate cut from the Reserve Bank of Australia this weekReserve Bank of Australia expected to cut its cash rate by 25bp on February 18Market Outlook for the Week of 17th-21st FebruaryNewsquawk Week Ahead: RBA, RBNZ, FOMC Minutes, PMIs, Canada, UK and Japan inflation

The Reserve Bank of Australia Statement is due at 2.30pm local time on the 18th:

0330 GMT, 2230 US Eastern time

Reserve Bank of Australia Governor Bullock will hold her press conference an hour later.

The RBA rate cutting cycle hasn't begun yet. Today's the day! Well, that's my call, which is a consensus one. Its not unanimous but it's a widely held forecast.

This article was written by Eamonn Sheridan at www.forexlive.com.

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