No Rate Hike in Sight for the Aussie: RBA
Today we heard from the RBA's assistant Governor Low and it wasn't good news if you're looking for a rate hike in the AUD/USD any time soon.
Rowan Crosby•Friday, August 17, 2018•1 min read
Today we heard from the RBA’s assistant Governor Low and it wasn’t good news if you’re looking for a rate hike in the AUD/USD any time soon.
As usual, Low was towing the party line and keeping things pretty vague.
Some of the key points that we saw were:
- RBA still worried about weak employment and sluggish inflation
- Next move in rates will be up
- He would like to see a lower AUD as that would be helpful to the Aussie economy
The AUD/USD has been particularly weak over the last few days (even months we could say). The next rate hike is looking at being in 2020 now which is a fair way away. So I suspect we are going to be seeing more of the same with the USD outpacing the old AUD.
RBA’s Ellis is due to speak later today in what I would expect will be more of the same.
My downside target remains in place, below 0.7200, despite yesterdays bounce.
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ABOUT THE AUTHOR
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Rowan Crosby
Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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