What are the main events for today?

Today is going to be another empty day in terms of data releases as we will just get low tier data points. The main event today was the RBA rate decision.

The central bank kept the cash rate unchanged as expected but toned down once again its language as it nears the start of its easing cycle. The Australian labour market report on Thursday will be important for the AUD.

The focus remains on the US CPI data due tomorrow. Another hot report is likely to weigh on the sentiment, while soft readings should see risk-on across the board with the US Dollar likely offered strongly.

This article was written by Giuseppe Dellamotta at www.forexlive.com.