21 Jul 2015
Aussie lower on RBA minutes – BTMU
FXStreet (Edinburgh) - Currency Analyst at BTMU Lee Hardman has assessed the impact of the RBA minutes on the Aussie dollar.
Key Quotes
“The minutes highlighted as well that the RBA mostly attributes the recent stability of the unemployment rate despite below trend growth to slower population growth”.
“Overall, the minutes did not provide a clear signal as to whether the RBA will ease further which remains data dependent”.
“However, the RBA did reiterate again that the Australian dollar is likely to weaken further which is deemed necessary to help achieve balanced growth in the economy”.
“So far the RBA members noted that the exchange rates had offered less assistance than would normally be expected”.
“Renewed weakness in commodity prices will likely keep the Australian dollar under downward pressure in the near-term”.
“The release of the latest Australian CPI report for Q2 will be in focus tomorrow to assess further whether the RBA will ease monetary policy again this year”.
Key Quotes
“The minutes highlighted as well that the RBA mostly attributes the recent stability of the unemployment rate despite below trend growth to slower population growth”.
“Overall, the minutes did not provide a clear signal as to whether the RBA will ease further which remains data dependent”.
“However, the RBA did reiterate again that the Australian dollar is likely to weaken further which is deemed necessary to help achieve balanced growth in the economy”.
“So far the RBA members noted that the exchange rates had offered less assistance than would normally be expected”.
“Renewed weakness in commodity prices will likely keep the Australian dollar under downward pressure in the near-term”.
“The release of the latest Australian CPI report for Q2 will be in focus tomorrow to assess further whether the RBA will ease monetary policy again this year”.