AUD marked lower on the RBA Statement.

Author: Eamonn Sheridan | Category: Central Banks

The Reserve Bank of Australia February 2019 Statement on Monetary Policy has substantial cuts to the economic growth outlook

This is probably a positive, i.e. that the Bank recognises it has been way too optimistic.
On the negative side the bank continues to say it sees inflation picking up. Which I reckon is a negative 'cause they always say that and they've been consistently wrong. 

Anyway, AUD has been marked down:

The Reserve Bank of Australia February 2019 Statement on Monetary Policy has substantial cuts to the economic growth outlook
For the balance of the day at least watch for selling to enter on rallies. 
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With all the revision to forecasts it is difficult to see how the balance of risks is even beteen a hike and a cut. Seems to me the risk is skewed to a cut


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