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5 Mar 2014
Flash: RBA unwilling to accept further AUD gains - Danske Bank
FXStreet (Barcelona) - Christin Tuxen, Senior Analyst at Danske Bank notes that Australian Q4 GDP came out at a healthy 2.8% y/y, some way above the Reserve Bank of Australia (RBA) forecast of 2.5%.
Key Quotes
“While the economy is suffering from weaker Chinese demand and a deceleration in mining investment, past rate cuts from the RBA indeed seem to be working their way through the economy.”
“Still, AUD/USD has seen only a limited move higher, underlining the risk that the RBA will be unwilling to accept any significant upside from current levels.”
Key Quotes
“While the economy is suffering from weaker Chinese demand and a deceleration in mining investment, past rate cuts from the RBA indeed seem to be working their way through the economy.”
“Still, AUD/USD has seen only a limited move higher, underlining the risk that the RBA will be unwilling to accept any significant upside from current levels.”