Get a free Quote

From CCY
please type the characters you see:
(spam filter)
spam control image

Apply now

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

FX News

Most recent FX News:

Read more

RBA Monetary Policy Meeting minutes

Written by Sam Coxhead on October 18th, 2011.      0 comments

12:05 PM (AEST) The latest RBA monetary policy meeting minutes did not hold too many surprises. The indicate that there is scope for easing’s to the cash rate in the 3rd quarter economic data confirms that the inflation outlook is softening. They acknowledge that near term economic growth is slowing and the jobs market is less tight than it was. They will continue to analyse data as it comes to hand and review policy in November. They point out that Chinese growth seemingly remains on track and that the European situation continues to weigh on the global outlook.
There was little AUD weakness following the announcement, but now it is broadly unchanged.
Overnight the market saw a turnaround in sentiment as German officials correctly pointed out to the market that a definitive crisis ending package is unlikely to be tabled at the summit next weekend. The recent risk appetite did seem to be a little overdone, some this kind of correction does not come as too much of a surprise.
The next piece of the puzzle will be the Chinese GDP data this afternoon, and will be closely watched. There are some signs of fragility in some sectors of the Chinese economy. Also, there are concerns about some lending practices that may cause some instability at some stage , should a reasonable slowdown occur.
          Past 24 hours
  Current level Pre-RBA mins  % Chge RBA Mins   Low High
NZD/USD 0.7937 0.7935 0.03%   0.7904 0.8070
AUD/USD 1.0201 1.0190 0.11%   1.0145 1.0371
NZD/AUD 0.7782 0.7787 -0.06%   0.7766 0.7795
AUD/NZD 1.2850 1.2842 0.06%   1.2829 1.2877
NZD/GBP 0.5032 0.5036 -0.08%   0.5020 0.5104
NZD/EUR 0.5765 0.5766 -0.02%   0.5750 0.5813
NZD/YEN 60.98 60.98 0.00%   60.68 62.05
NZD/CAD 0.8107 0.8110 -0.04%   0.8072 0.8121