RBA statement having its impact on AUD prices 1 August
- rising A$ would slow economy
- recent rise in A$ weighing on economic outlook for output and employment
- higher A$ is restraining price pressures
Lows of 0.7996 but already bouncing to post 0.8026 with a few buyers laying in wait expecting some negative vibes in the statement
Demand/support building into 0.7980 with 0.8050-55 the topside area that needs to break now to confirm further advances.
Recovery now back up to 0.8031 as I type as the rest of the statement appears generally upbeat.
Full RBA details from Nick here