Although the RBA hinted at a pause in its easing cycle, weakening economic data and trade risks could convince policymakers to cut rates again.

In our Event Guide for the RBA Statement, we discussed how inflation and employment reports both missed their marks in February. In addition, another round of tariffs on U.S. trade partners could further cloud the outlook for Australia’s commodity exports.

Here’s what I’m watching on AUD/NZD and AUD/CHF in this scenario.