Flash: AUD dampened by RBA commentary - TD Securities

FXstreet.com (Barcelona) - TD Securities analysts note that the RBA Statement on Monetary Policy lowered growth forecasts via lower mining investment and a stronger currency, although noted upbeat business and consumer sentiment, retail sales and housing sector.

Key Quotes

“The Bank’s second reference to “not close off the possibility” of another cash rate cut dampened the AUD a little, given it is a weak easing bias.”

“Contrary to our expectation of maybe a tweak to the forecasts, there were GDP downgrades across the board, with “below-trend” growth through to mid-2015 (trend is ‘around 3%’ in RBA-speak).”