When are the RBA Meeting Minutes, and how could they affect the AUD/USD?

RBA Meeting Minutes overview

At 01:30 GMT the Reserve Bank of Australia (RBA) is expected to deliver their latest Meeting Minutes which highlights the central bank's internal discussions regarding the Australian economy. With the RBA firmly entrenched in a holding pattern spanning several years, little of note is expected, although traders will be keeping an eye on any adjustments to the RBA's usual rhetoric. Australian housing prices will also be dropping at 01:30 GMT, and the q/q Housing Price Index is expected to hold steady at -0.7%, although with the US announcing another $200 billion in tariffs against China little bullish momentum is expected, even if housing prices manage to pop on release.

How could it affect the AUD/USD?

Tariff action has seen the USD get a bump in the early overnight session, taking the AUD/USD back down to the 0.7150 level, and any upside surprises in the RBA minutes could spur buyers into action to boost the pair back up to the day's highs just shy of 0.7200, though bullish traction beyond the major handle is unlikely with broader markets twisting into a sour mood. 

On Daily candles the Aussie is set up to mark in a lower high, and shortsellers could be looking for a reason to begin stepping back in and pushing the AUD back down into September's lows near 0.7085.

Key notes

AUD/USD analysis: pressuring highs, but 0.7200 still elusive

AUD/USD Daily View Detail

About the RBA Meeting Minutes

The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.