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