- Says over past couple of months global growth forecasts have gone up a bit.
- Prepared to respond to major changes to economic outlook.
- Says economy recording reasonable growth.
- Says Chinese economy slowed to more sustainable pace.
- Says terms of trade remain historically high though off peak.
- Says global outlook weaker than it was earlier this year.
- Says developments in key commodity prices in line with progress of global economy.
- Says peak of resource investment boom will occur in next year or two.
- Anxiety about Europe will continue for quite some time even if things go well.
- Says recent data suggests growth is close to trend .
- Says A$ quite high despite decline in terms of trade .
AUD/USD drifted slightly lower from 1.0430 to 1.0422/25.
Most of this has been stated before and really didn’t address the “strong” A$ as a very big concern . I would still look for the market to at least test the bids down around 1.0400 level at some time during the next few hours .
