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RBA rate decision #2

Boogs_7702 Posted 5 Nov.  in #AUD #Rate Decision #Rba #Cash Rate
I love central bankers' ways of wording things: "The Australian dollar is uncomfortably high". Or, "At some point in time in the future, the Australian dollar will be materially lower than it is today."
Let's see how far down Mr. Stevens can push the Aussie dollar just by using words. Not bad so far but yesterday we were up 75 pips so let's see if we come back down today.
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RBA rate decision

Boogs_7702 Posted 4 Nov.  in #AUD #USD #Rate Decision #Rba #Stevens #Glenn
If Bank Governor Stevens really wants the Aud to be weaker, he is going to have to surprise us all and reduce the cash rate. It's as simple as that. If they don't reduce the cash rate, then all this talk from the RBA and RBNZ for that matter is just talk and they don't really care. Why? Because if they stick to their cash rate, Aud will surely reach .9750 in a hurry again, no problem. And according to Stevens this rate was not even explainable. So tonight is actually really big for the Fx market…
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3 Comments
jezz avatar
jezz 4 Nov.

I think it's enough for this year's cuts

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Boogs_7702 4 Nov.

We will see but I say again, if they really do want the exchange rate lower, this is really the only solution right now. The Fed din't taper as expected and this could really make the RBA rethink what they need to do. Let's not forget that more cuts were already foreseen for this year so it wouldn't really be too many.

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jezz 4 Nov.

Ok. Bloomberg predicted aud/usd at 0.80 when it was 1.05. It didn't seem real back then, now it is possible. Rate cuts + gold price have helped a lot, so it is plausable

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