RBA: No Chance of a Rate Hike Anytime Soon
The AUD/USD is relatively unchanged on the back of another relatively flat update from the RBA.
The AUD/USD is relatively unchanged on the back of another relatively flat update from the RBA.
The RBA minutes have suggested that there really doesn’t appear to be a hike on the cards anytime soon, however, the next move will likely be up.
The key issue recently has been the GDP print recently which really missed expectations and it is clear that the RBA was expecting a bit of a better result on that front. So that really adds to the negative sentiment at the moment.
A few of the key risks appear to be household debt, weak wage growth and falling house prices.
Not much to see here really, which is as expected.
Aussie Outlook
The AUD/USD is still holding below the major level at 0.7200 and I can’t see much of a rally just yet.
The Aussie remains virtually unchanged on the news today so again we will wait and see what happens later in the session.
Now the attention turns to the FOMC, with the outlook for rate hikes in 2019 the clear focus for the USD and in turn the AUD/USD.
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