13 Feb 2015
RBA Governor’s comment sends AUD higher – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team shares that RBA Governor’s comments regarding the diminishing impact of rate cuts led AUD/USD pair higher towards 0.7790.
Key Quotes
“AUD/USD also saw the most volatility among USD majors, rising about 60pips from the lows to $0.7790.”
“After yesterday's weak employment data, economists began to price in more RBA rate cuts as early as next month.”
“However, in his bi-annual testimony to parliamentary committee, RBA Gov Stevens said it would be unwise to react to one month of jobs numbers, also adding the impact of rate cuts may be diminishing. Traders took that as a sign the central bank chief wanted to temper expectations of more easing, even though he also expressed concern that the downswing in mining would only accelerate in 2015.”
Key Quotes
“AUD/USD also saw the most volatility among USD majors, rising about 60pips from the lows to $0.7790.”
“After yesterday's weak employment data, economists began to price in more RBA rate cuts as early as next month.”
“However, in his bi-annual testimony to parliamentary committee, RBA Gov Stevens said it would be unwise to react to one month of jobs numbers, also adding the impact of rate cuts may be diminishing. Traders took that as a sign the central bank chief wanted to temper expectations of more easing, even though he also expressed concern that the downswing in mining would only accelerate in 2015.”