Back
6 Feb 2015
RBA monetary policy statement firms the AUD – OCBC
FXStreet (Barcelona) - Emmanuel Ng of OCBC Bank, views that the AUD firmed against the USD on a less than anticipated downgrade in the inflation and growth forecasts by the RBA.
Key Quotes
“This morning, the RBA Monetary Policy Statement left the AUD-USD a touch firmer relative to the NY close on Thursday and we think this was partially due to the fact that growth and inflation forecasts were not ratcheted lower as aggressively as previously feared despite the statement essentially elucidating at length on the dovish tone from the meeting statement.”
“Markets may fizzle heading into 0.7860 pending the US NFP numbers while 0.7760 may beckon if risk appetite evaporates again.“
Key Quotes
“This morning, the RBA Monetary Policy Statement left the AUD-USD a touch firmer relative to the NY close on Thursday and we think this was partially due to the fact that growth and inflation forecasts were not ratcheted lower as aggressively as previously feared despite the statement essentially elucidating at length on the dovish tone from the meeting statement.”
“Markets may fizzle heading into 0.7860 pending the US NFP numbers while 0.7760 may beckon if risk appetite evaporates again.“