forex AUD/USD: RBA Released Dovish Meeting Minutes

[Anzo Lim 0]

 https://jump.wikifx.com/83348CF26389B46D

Forex traders have been selling AUD after the Reserve Bank of Australia(RBA) released its latest monetary policy meeting minutes, as the minutes showed policy makers had considered cutting interest rates in November. The signal was quickly received by the traders who have been paying close attention to Australia’s economic growth.

 

The key point is that the meeting expects economic growth to be even weaker in the future. The minutes show the market that the RBA is more dovish than people have thought. The next indicator to be closely watched is GDP data scheduled for early December. If GDP data turns out lower than expected, the RBA will be under pressure to cut interest rates next month.

 

After the minutes have been released, Australian 10-year bond yield dropped 5 basis points to the lowest level since November 1^st.

 

AUD/USD daily pivot points: 0.6805-----0.6809

 

S1: 0.6793          R1: 0.6817

S2: 0.6783          R2:0.6831

Edited November 19, 2019 by Anzo Lim