Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Australian Dollar Mute on Dovish RBA Board Minutes

Australian Dollar Mute on Dovish RBA Board Minutes

Eric Andersen,

THE TAKEAWAY: RBA Board Minutes Lack Enthusiasm for Economic Growth > Dovish Outlook Affirms Chance of Expected Rate Cut > AUDUSD Falls

Australian_Dollar_Mute_on_Dovish_RBA_Board_Minutes_body_Picture_5.png, Australian Dollar Mute on Dovish RBA Board Minutes

Monetary policy meeting minutes released by the Reserve Bank of Australia portray a Board markedly reserved in regard to Australia’s economic outlook. With regard to international conditions, governors noted “ongoing weakness in Europe,” a slowing Chinese growth, falling terms of trade, and concerns that higher oil prices will negatively affect supply. Domestically, board members emphasized mixed business activity indicators, modest export growth, a subdued labor market, and a weak housing market. Overall, the Board stated that, in the event of moderating inflation during the coming period, “then a case could be made for further easing of monetary policy.” However, the RBA will wait for the Aussie CPI data’s release on April 24th before making a decision regarding its cash rate.

Following the release, which was widely expected to be dovish in tone, traders initially sold, then repurchased the Aussie dollar. The AUDUSD fell from 1.0340 to as low as 1.0330, and then rose up to 1.0350.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES