Author: Dennis Li
No surprises last night with very little change on the Aussie against the US with market participants awaiting the result of the RBA rates decision today which is widely expected to be held unchanged at its record low level of 1.5% since August 2016. Trade tensions between the US and China, as serious as they are, appear to be taking a back seat at the moment with some observers suggesting the US is gaining the upper hand after softer Chinese data and equities activity.
After today’s RBA announcement and Governor Lowe’s speech tomorrow there isn’t much to push the AUD any higher than the recent tight ranges. The AUD/EUR has gained solid ground over the last 24 hours but is hitting a ceiling at 0.6390.
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