17 Mar 2015
AUD/USD slightly offered on a, "wait and see RBA"
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7630 with a high of 0.7646 and low of 0.7611.
AUD/USD is tentatively offered on the back of the RBA minutes that told markets that they were close to cutting rates but wanted to wait and see what further economic activity and subsequent data releases might hold in the near future.
From the minutes: "In considering whether or not to reduce the cash rate further at this meeting, members saw benefit in allowing some time for the structure of interest rates and the economy to adjust to the earlier change. They also saw advantages in receiving more data to indicate whether or not the economy was on the previously forecast path."
All in all, the door is wide open for further easing and markets will now be very attentive to the forth coming data events on the calendar and the Aussie may continue to trade in a heavy and bearish environment until there is evidence that the RBA is able and willing to hold for additional times frames ahead. Technically, while below the 0.78 handle the base of the 2 year down channel at 0.7528 vs the greenback is in sight.
AUD/USD is tentatively offered on the back of the RBA minutes that told markets that they were close to cutting rates but wanted to wait and see what further economic activity and subsequent data releases might hold in the near future.
From the minutes: "In considering whether or not to reduce the cash rate further at this meeting, members saw benefit in allowing some time for the structure of interest rates and the economy to adjust to the earlier change. They also saw advantages in receiving more data to indicate whether or not the economy was on the previously forecast path."
All in all, the door is wide open for further easing and markets will now be very attentive to the forth coming data events on the calendar and the Aussie may continue to trade in a heavy and bearish environment until there is evidence that the RBA is able and willing to hold for additional times frames ahead. Technically, while below the 0.78 handle the base of the 2 year down channel at 0.7528 vs the greenback is in sight.