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FOREX MARKET

Word’s best inside FX traders

insider trading, AUDUSD, Reserve Bank of Australia, ASIC, Australian Dollar

The Australian financial regulator ASIC   launched an investigation into the 'suspicious trading" responsible for the jump in the AUDUSD just prior to the release of the Reserve bank of Australia surprise decision to hold interest rates in March 3. On April 7 the Reserve Bank of Australia again surprised the market by holding rates. In the minute prior to the report release the market also reacted strongly. The financial regulator ASIC suggested this was evidence of inside trading. But is it really?

Closer examination of the charts casts a better light on this so-called inside trading activity.

The pair in focus is the AUDUSD. Here's the chart for March 3.  Quite clearly there is a sharp move before the release of the report.  The release time is shown as 13.00 on the 2 minute chart because  we use local time on our computer system.

insider trading, AUDUSD, Reserve Bank of Australia, ASIC, Australian Dollar

 

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