26 Nov 2013
Flash: AUD 0.53% lower post Lowe's speech – TD Securities
FXstreet.com (London) - Strategists at TD Securities noted recent activity surrounding the AUD while the pair is trading 0.53% lower.
Key Quotes:
RBA Deputy Governor Lowe’s speech in Sydney on productivity, drivers and trends covered familiar ground, focusing on the need to lift productivity growth as Australia adjusts to a decline in terms of trade in future”.
“Price action kicked in during the Q&A when he said that the ‘threshold for intervention is fairly high’ although he did not rule it in or out”.
“The AUD spiked to $US0.9176, reversing a lot of the Governor’s successful jawbone lower late last week”.
“More pieces of the Q3 current account were released, with the quarterly trade deficit ~$2b higher due to the ABS including imports goods via internet sales”.
Key Quotes:
RBA Deputy Governor Lowe’s speech in Sydney on productivity, drivers and trends covered familiar ground, focusing on the need to lift productivity growth as Australia adjusts to a decline in terms of trade in future”.
“Price action kicked in during the Q&A when he said that the ‘threshold for intervention is fairly high’ although he did not rule it in or out”.
“The AUD spiked to $US0.9176, reversing a lot of the Governor’s successful jawbone lower late last week”.
“More pieces of the Q3 current account were released, with the quarterly trade deficit ~$2b higher due to the ABS including imports goods via internet sales”.