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Not going to drill down too much into Glenn Stevens but he has done some unprecedented stuff in his time. I am not going to put my car on the line but I think he will be raising interest rates. My hyphothesis is that he tried the housing bubble effect and people didn't buy it. His only other strategy now is to use the "surprise" element.
In all state interest, I believe he is concerned about the rising housing prices and although inflation is not high enough to assume aggressive monetary policy, he needs a lever to manage the house prices from "breaking-out". This I believe has all to do with expectations.
Let's see how it pans out.
As for trading times for EURUSD, my simplistic way of looking it is in GMT hours. Australia is sitting on GMT+10. European nations + US will be circa GMT - 6 to GMT + 2. Assuming key trading hours of 9-11am and 2-4pm; we will be looking at key market times (in Australian AEDST)
5pm to 8am
Very rough calculations of course. I usually look at it the other way, trading the EURUSD from 8am to 5pm isn't the most beneficial on most typical days.
