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.
For most recent information you have to pay a quick visit world wide web and on world-wide-web I found this site as a most excellent web site for latest updates.
With such a huge range of these products on the market a home can easily be turned into one that is stylish and energy smart, while adding value to your property. We should also look for sites which provide us ideas and new innovations. The key to making sure that this changes is to further educate the public about the need for e-waste recycling in their area.
Its like you read my mind! You appear to know so much about this, like you wrote the book in it or something. I think that you could do with some pics to drive the message home a little bit, but instead of that, this is fantastic blog. An excellent read. I’ll definitely be back.
Thanks for sharing such a nice idea, piece of writing is good, thats why i have read it entirely
The worst thing most cam girls do in this situation is start screaming at people that she needs to go offline before her camscore drops.
With every one of the shoe as well as calf massagers I have actually viewed previously, one that I suched as one of the most is
the OSIM uSqueez.
Good day! I know this is kind of off topic but I was wondering which blog
platform are you using for this site? I’m getting tired of WordPress because I’ve had issues with hackers and I’m looking at alternatives for another platform.
I would be awesome if you could point me in the
direction of a good platform.
To take the waistband running correct, many sanders possess
a monitoring change button that you may depend on focus the belt.
Hi, I think your site might be having browser compatibility issues. When I look at your blog site in Safari, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, very good blog!
Do you have a spam issue on this blog; I also am a blogger, and I was curious about your situation; we have developed some nice procedures and we are looking to swap solutions with other folks, please shoot me an email if interested.