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RBA once again held overnight cash rate at the record low of 1.5%. The accompanying statement was relatively upbeat. It didn't differ much from the previous one though. China debt still a medium-term risk. Slow wage growth to persist. GDP growth expected to have slowed in the first quarter - did they get an advance notice?
Aussie recovered from the overnight pullback on some weaker current account data. 0.75 is the immediate resistance. A break above could see some short covering. 0.745 should continue to hold, if this bull run still has some legs.
Aussie recovered from the overnight pullback on some weaker current account data. 0.75 is the immediate resistance. A break above could see some short covering. 0.745 should continue to hold, if this bull run still has some legs.
