AUD: RBA Remains Upbeat; What’s Next? – BTMU

The Australian dollar enjoyed the RBA’s upbeat message of late, as well as good economic data. However, also the Fed was hawkish[1]. What’s next?

Here is their view, courtesy of eFXnews:

BTMU FX Strategy Research notes that the minutes from the June RBA monetary policy meeting released this week revealed an upbeat central bank that did not read much into the slowdown in real GDP growth in Q1.

“The upbeat outlook of the RBA does suggest that if that evidence does materialize the communication of the RBA may change toward the potential signal of removing some of the current monetary stimuli.

The current level of AUD/USD certainly suggests FX market participants are expecting that to materialize over the coming months. The 2-yeaar swap spread continues to indicate AUD/USD as stretched at current levels,” BTMU argues.

For lots more FX trades from major banks, sign up to eFXplus[2]

By signing up to eFXplus via the link above, you are directly supporting Forex Crunch.

Get the 5 most predictable currency pairs[3]

from Forex Crunch http://feedproxy.google.com/~r/ForexCrunch/~3/BlgUydlUH5c/

from Online Forex Trading Resource
View thesource article here

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s