The Australian dollar weakened against the other major currencies in the Asian session on Tuesday after the minutes of the Reserve Bank of Australia March monetary policy meeting signaled the possibility of cutting the benchmark interest rate again.
The members of the RBA monetary policy board decided finally to take no action in order to give the economy more time to adjust to the 25-basis point rate cut implemented in February, the minute showed.
The bank said that it was appropriate to hold rates steady after easing in the previous month and said that the board will asses the need for further easing at forthcoming meetings, to foster sustainable growth in demand and to reach the inflation target.
“Members saw benefit in allowing some time for the structure of interest rates and the economy to adjust to the earlier change. They also saw advantages in receiving more data to indicate whether or not the economy was on the previously forecast path,” the minutes said.
At the meeting, the central bank kept its benchmark interest rate steady at 2.25 percent.
Monday, the Australian dollar showed mixed trading against the other major currencies. While the U.S dollar, the yen and the euro held steady, it rose against the Canadian dollar. Against the NZ dollar, the aussie fell.
In the Asian trading today, the Australian dollar fell to nearly a 2-week low of 1.0332 against the NZ dollar, from yesterday’s closing quote of 1.0359. If the aussie extends its downtrend, it is likely to find support around the 1.02 area.
The aussie slipped to a 5-day low of 1.3871 against the euro, from yesterday’s closing value of 1.3824. On the downside, 1.43 is seen as the next support level for the aussie.
Against the U.S. and the Canadian dollars, the aussie dropped to 4-day lows of 0.7612 and 0.9728 from yesterday’s closing quotes of 0.7637 and 0.9755, respectively. The aussie is likely to find support around 89.20 against the greenback and 0.95 against the loonie.
The aussie edged down to 92.42 against the yen. At yesterday’s close, the aussie was trading at 92.67 against the yen. The aussie is now poised to seek support near the 89.20 region.
Looking ahead, Japan leading index for January is due to be released at 1:00 am ET.
In the European session, the German ZEW economic sentiment index for March, final Eurozone CPI for February and employment data for fourth-quarter are slated for release.
In the New York session, U.S. building permits and housing starts data for February and Canada manufacturing sales data for January are set to be published.
U.S. Federal Reserve’s Federal Open Market Committee will start its two-day meeting on interest rates.
I really like your blog.. very nice colors & theme. Did you design this website yourself or did you hire someone to do it for you? Plz answer back as I’m looking to create my own blog and would like to find out where u got this from. thanks
That stated, there are a variety of alternate systems from low-tech mound system” to even more technical systems with artificial prefilters that deal with effluent appearing of the sewage-disposal tank as well as various other synthetic or organic filtering media to change traditional crushed rock or rock trenches.
Well, both do have a fair share of disadvantages and also pros, from its resource,
the freedom of finding, the upkeep as well as of course the most essential of them all, the
price.
This is where Seo can be found in. Search Engine Optimization,
or Search Engine Optimization, refers to a collection of practices and techniques targeted at boosting your presence in online search engine results.
Superb blog! Do you have any tips and hints for aspiring writers? I’m planning to start my own site soon but I’m a little lost on everything. Would you recommend starting with a free platform like WordPress or go for a paid option? There are so many options out there that I’m totally confused .. Any tips? Kudos!
Great goods from you, man. I have understand your stuff previous to
and you are just too excellent. I actually like what you’ve acquired
here, really like what you’re stating and the way
in which you say it. You make it enjoyable and you still take care of to keep it smart.
I can not wait to read far more from you. This is really
a wonderful site.
Sites that pack rapidly are extremely valued by Google and you will obtain an increase in your
rankings for this alone.
Excellent post. I was checking constantly this blog and I’m impressed!
Very useful info specifically the last part 🙂 I care for
such information a lot. I was seeking this certain info for a very long time.
Thank you and best of luck.
Many people think that they need Viagra to achieve an erection without being completely aroused. A recent study just found that men in America over the age of 40 that are taking medication for erectile dysfunction are being diagnosed with STD’s at a rate two times higher than American men over the age of 40 that are not taking medication for erectile dysfunction. The herbal treatment of sexual dysfunction depends on a good differential diagnosis.
Not all of the cleaning services NYC offers are low cost. However, it really is a great rule of thumb that the far more pricey your schedule, the a lot more you will get out of it. Although this is not constantly accurate, and you ought to do your pricing study, be prepared to pay for the services you want.