19 Nov 2013
Flash: RBA hints at need for weaker AUD - OCBC Bank
FXstreet.es (Barcelona) - Emmanuel Ng of OCBC Bank notes that the RBA minutes released this morning did not present any unpleasant shocks with the central bank still leaving the door ajar for potential rate cuts and expected to remain static in the interim.
Key Quotes
“While sounding a tad more positive on the non-resource sectors, the minutes also noted that “a lower level of the exchange rate would likely be needed to achieve balanced growth in the economy”.”
“In the interim, the AUD/USD may continue to shy away from the 55-day MA (0.9423) on the topside while 0.9300 is expected to present initial support on dips.”
Key Quotes
“While sounding a tad more positive on the non-resource sectors, the minutes also noted that “a lower level of the exchange rate would likely be needed to achieve balanced growth in the economy”.”
“In the interim, the AUD/USD may continue to shy away from the 55-day MA (0.9423) on the topside while 0.9300 is expected to present initial support on dips.”