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  1. #1
    Legendry Member milos's Avatar

    RBA cuts the rates 2.75% !!!

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    RBA is cutting interest rate.It is just stimulating internal economy so make AUD even more attractive to foreign investors. Dropping interest rates points to a negative economic outlook, and then we will see AUDUSD 1.00. AUD is biggest carry traded currency.

    Key levels


    1.023 Resistance
    1.02000 Resistance
    1.01845 last
    1.0125 Support
    1.011 Support
    1.009 Support

  2. #2
    Legendry Member milos's Avatar
    The Australian dollar fell to 20-month bottom of the US dollar because disappointed economic report from China.Forex pair AUD/USD trades recorded during the at the previous day and it consolidated at 0.94140.The pair was likely found support at 0.9391,the low of 4th October 2011th and the resistance at o.9575 the high of 7th June.The official data showed that Chinese consumer price inflation fell at an annual 2.1% over the last month from 2.4% in April and it was expected to rise to 2.5%. Separate report showed that industrial production in the last months unexpectedly fell to 9.2% from 9.3% the previous month.Analysts have predicted that it will remain unchanged.China is the Australia's biggest export partner.The Australian dollar also fell against the euro,the Swiss franc and the yen.EUR/AUD rose to 1.3999,AUD/CHF fell to 0,8836 and AUD/JPY dropped to 92.55.

  3. #3
    Veteran Member hchandra's Avatar
    Nice call Milos,
    With the rate cut and lackluster in Gold also commodity,
    What do you think about AUD/USD, is it appealing to long it now for long term?
    Or will it fall further, maybe to 0.8800?

    I myself think there is more room for it to drop for medium term

  4. #4
    Legendry Member milos's Avatar
    RBA lowered it's benchmark interest rate at a low level of 2.5% from 2.75% which was in line in market expectation. The Governor of the Bank of Glen Stevens said that Australian dollar has fallen by about 15% since the beginning of April. although it remained at a high level and added that further weakening help to encourage rebalancing of growth of the economy. Stevens left the door open for further easing,saying that "the inflation outlook could provide scope for further easing of monetary policy." Australia's trade balance rose in July 0.60 billions of dollars from 0.51 billions in the previous month while analysts expected growth to 0.60 billion dollars. Australian official house price index has increased in the last quarter to 2.40% from 0.8% in the previous quarter while economists had predicted growth of 1.0%.

  5. #5
    Legendry Member milos's Avatar
    Reserve Bank of Australia in September kept the benchmark interest rate at a record low 2.5%, as expected, after a decrease of 0.25% in August. The Committee will continue to assess prospects and coordinate policy as needed to foster sustainable growth in demand and inflation in line with results of the inflation target. Australia's current account balance has fallen in the last quarter to minus $9.4 billion to minus $8.7 billion in the previous quarter. Analysts had expected growth to minus $8.3 billion.Retail sales in Australia rose in August to 0.1% from 0.0% in the previous month while analysts had expected growth of 0.4%.

  6. #6
    Legendry Member milos's Avatar
    Reserve Bank of Australia contained the unchanged interest rate at a record low of 2.5%. During the day the currency pair AUDUSD has reached the peak of 0.9435 and it touched the bottom at 0.9289. The currency pair consolidated at 0.9390.

    The lower level of the current currency will help to economic growth. The Governor of the Reserve Bank of Australia said that the Committee will continue to assess the prospects and it will adjust monetary policy if needed to foster sustainable growth in demand and inflation consistent with target.

  7. #7
    Legendry Member milos's Avatar
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    Reserve Bank of Australia left interest rates at 2.5% in November and has not announced further easing. Governor Glen Stevens said inflation was consistent with the target range of the central bank, but added that economic growth in the 12th largest economy in the world and continues to be slow.

    Asian stock markets were mixed, while stocks in Australia jumped after the Reserve Bank of Australia kept its benchmark interest rate at a record low level. Japan's Nikkei 225 index climbed 0.17%, while Australia's ASX/200 rose 0.77%.

  8. #8
    Legendry Member milos's Avatar
    Reserve Bank of Australia is ready to support sustainable economic growth, published in the minutes of the November meeting. The minutes also noted that the Australian dollar exchange rate remains uncomfortably high.

    The Central Bank estimated that it was necessary to leave the interest rate at the same level, but did not rule out the possibility of further reductions if necessary supporting sustainable growth of economic activities, in line with the inflation target.

  9. #9
    Legendry Member milos's Avatar
    Reserve Bank of Australia kept rates at a record low of 2.5%, which was in line with expectations. The Bank believes that Australian dollar is still strong, and, will,if necessary adjust monetary policy.

    Governor Glen Stevens said that the lower level courses needed to achieve a balanced growth of the economy.

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