Barclays are still expecting a Reserve Bank of Australia rate cut in May

  • They reason that the RBA has a pessimistic outlook for business investment
  • Also cite the comment from Governor Stevens back on Monday that easing "has to to be on the table"
  • Say it's a close call

AUD has bounced a little from 0.7740, there's buying there and layered down (more at the orderboard post earlier)