Australia's central bank surprised the market with the size of its overnight interest rate cut. Here's what could be next.
When the Reserve Bank of Australia cut interest rates by 50 basis points, more than investors expected, the Australian dollar, not surprisingly, slumped. Is the move over?
Hardly, says Todd Gordon, co-head of research and trading at Aspen Trading Group. Australia "has got subtrend CPI growth, housing sector's a problem, I think there's more cuts to go in the Australian economy, and that's going to weigh on the Australian dollar."