- Analytics
- News and Tools
- Market News
- New RBA Governor A Reluctant Rate Cutter - Credit Agricole
New RBA Governor A Reluctant Rate Cutter - Credit Agricole
"Australian construction work done data show further contraction in the sector as declines in engineering construction continue to more than offset firm growth in residential and non-residential construction. The end to the mining boom remains a significant drag on the economy. Anecdotal evidence about Australia's residential property market is mixed. While auction clearance rates in Melbourne and Sydney remain high, in other centres they are weakening. Sydney's weekend auction clearance rates hit boom-time highs over the recent weekend and even weekday auctions are seeing strong bidding, largely driven by the RBA's latest rate cut.
The bar for further rate cuts in Australia is likely high. New RBA Governor, Phil Lowe, is a system stability expert and likely a reluctant rate cutter.
So AUD's fortunes are increasingly tied to the Fed. AUD/USD continues to rest against trend-line support ahead of Yellen's speech on Friday".
*Credit Agricole maintains a short AUD/USD position from 0.7674.
Copyright © 2016 Credit Agricole CIB, eFXnews™
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
