RBA governor Lowe with scheduled speech 5 Sept
I'll bring you more headlines but AUDUSD unfazed by any of it so far at 0.7968
- RBA has not sought to overly engineer, fine-tune things
- lower rates would add to risk in household balance sheets
- appreciating A$ wouldn't be helpful for tourism, education
Absolutely, that GBPAUD rate looking horrible with the Ashes coming up this Winter.
- not in the public interest to encourage more borrowing
- inflation at mid-point of target band
- expects inflation and wages to pick up gradually
Expects or hopes ? Not alone in either of those anyway with other CBs also similarly placed.
- investment outlook has brightened
- sees GDP picking up to 3%
- rise in A$ would not be helpful for service and agricultural exports
- discussed China at Sept meeting, challenge of balancing growth against high debt
Nothing in any of this that we didn't know IMHO and lack of any more direct rhetoric on lower AUD plus GDP optimism sees a few buyers creep out from behind the sofa to send AUDUSD testing 0.7980-85 offers/res. More into 0.8000.
Demand/support still between 0.7950-60
RBA's Lowe - Springing no surprises
