Global Themes

AUD

Aussie helped higher as RBA statement unchanged

The AUD was higher across markets yesterday after the Reserve Bank of Australia announced its most recent interest rate decision with no major change.

Last month, the RBA removed the reference to the central bank’s next move – previously said to be “up” – in a change that caused markets to believe the RBA had become more cautious on the Australian economy.

As a result, markets were on tenterhooks for further negative commentary ahead of yesterday’s statement.

However, with no significant change, the AUD rallied.

Rebound

The AUDUSD rebounded again from the major support zone at 18-month lows.

The AUDUSD was up 0.5%.

The AUD was also higher versus the euro, up 0.5%, and the Japanese yen, up 0.4%.

Retail sales, trade balance

A switch-up in the traditional calendar sees Australian retail sales and trade balance released today (rather than the traditional Thursday).

Both of these numbers have recently improved and another strong number from either release can boost the AUD.

Retail sales and trade balance figures are due at 11.30am AEST.

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