RBA Minutes: No inclination to shift to a neutral stance – OCBC

FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, comments on the RBA meeting minutes released today and further shares the outlook for AUD/USD.

Key Quotes

“RBA meeting minutes released this morning demonstrated no inclination to move to a neutral stance after the latest rate cut while the central bank reiterated that a lower AUD was both likely and necessary to aid in rebalancing the economy.”

“Given the intra-day dollar environment, AUD-USD may remain submerged below 0.800 pending further global cues.”