Sell - Australian Dollar (FXUKCL) leveraged Citi warrant
*** GENERAL AVICE ONLY***
Trade Date: 07/11/2023
Recommendation
Entry price: $6.05 (0.6510 equivalent)
Stop Price: $5.30 (0.6460) equivalent) -8.25%
Rationale
The Reserve Bank of Australia (RBA) has increased the cash rate target by 25 basis points to 4.35%, alongside a similar increase for the interest rate on Exchange Settlement balances, in response to persistent inflation that, while past its peak, remains too high. After the RBA hike rates by 25 bps on Tuesday, the language was fairly cautious causing the the AUD to sell off against the USD.
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.