Currency Update: The RBA leave rates unchanged at 2.50%, reiterating that it would prefer a lower AUD
Currency Update: The RBA leave rates unchanged at 2.50%, reiterating that it would prefer a lower AUD. It was more positive on the outlook for private demand outside of the mining sector. Today in Australia we will see the trade data for September and the market is looking for an improvement in the deficit from $815mn to $500mn. Such a result is not likely to have much of an influence on markets. The upside surprises in the UK PMI services and US ISM nonmanufacturing index's gave a boost to GBP and the USD respectively. AUD & NZD initially received a leg up from the GBP move, although this was largely reversed following the ISM release. Today's Forecast Range: USD 0.9455 - 0.9525
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.
Comments
Comments
Sign In or Join Free to comment