DirectFX-phone-number-and-phone-image3.gif

p_7_top.jpg

Get a free Quote

Name
Email
Phone
From CCY
To CCY
Amount
Message
please type the characters you see:
(spam filter)
spam control image
 
p_1_top.gif

Apply now

Obligation free account and currency commentary btn_apply_for.gif
p_1_bottom.gif
Browse By Topic

FX News

Most recent FX News:

Read more

RBA Minutes show cash rate hikes off the table for the time being..

Written by Sam Coxhead on June 21st, 2011.      0 comments

11:55 AM (AEST) The just released RBA minutes point towards the Australian cash rate remaining unchanged in the short term. Their forecasts suggest that further tightening would be necessary at some point, but given the weaker data flow over the last month or so the current level remains appropriate and there is no urgency for a higher cash rate.
 
The full release of the Minutes can be read at the RBA website link here : http://www.rba.gov.au/monetary-policy/rba-board-minutes/2011/07062011.html
 
The AUD has softened a touch against all currencies since this release. In the offshore session, various central bank names were seen buying AUD, as diversification away from the US dollar continues. Asian central banks have been active in the AUD for some time, and this week sees reports that the Russian Central bank will be buying around 5 billion AUD -1% of its assets , over the coming 2-3months. This type of interest to buy AUD, and to a lesser extent NZD, will provide some support when at other times both the growth currencies may have moved well lower in the current levels of risk aversion. This points to smaller ranges in the short to medium term, at least in the absence of a credit event in Europe.
 
 
          Past 24 hours
  Current level Pre- RBA Mins  % Chge since RBA Mins   Low  High
NZD/USD 0.8095 0.8098 -0.04%   0.8046 0.8118
AUD/USD 1.0557 1.0606 -0.46%   1.0496 1.0616
NZD/AUD 0.7669 0.7637 0.42%   0.7636 0.7675
AUD/NZD 1.3040 1.3095 -0.42%   1.3029 1.3096
NZD/GBP 0.4992 0.4990 0.04%   0.4977 0.502
NZD/EUR 0.5650 0.5642 0.14%   0.5646 0.5683
NZD/YEN 64.92 64.91 0.02%   64.46 65.18
NZD/CAD 0.7931 0.7925 0.08%   0.7913 0.7953
 

Comments