RBA may play it cool, but risk is towards less dovish - AmpGFX

On balance, the RBA statement that is already quite balanced, and acknowledging strength in the global economy, may offer few surprises, suggests the analysis team at Amplifying Global FX Capital.

Key Quotes

“The RBA should continue to view risks in consumption and housing market.  However, it is likely to upgrade its assessment of the labour market.”

“We doubt it will change its final (lack of) guidance on rates, but it is possible that even a somewhat more optimistic tone on the labour market could trigger strength in the AUD as the market views these through the lens of the global trends towards less dovish policy.”