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FxWirePro: Aussie gains against major peers after RBA’s monetary policy statements

  • AUD/NZD is currently trading around 1.0614 marks.
     
  • Pair made intraday high at 1.0617 and low at 1.0594 marks.
     
  • Intraday bias remains neutral till the time pair holds immediate resistance at 1.0630 marks.  
     
  • A daily close below 1.0607 will take the parity down towards key supports around 1.0552, 1.0516, 1.0460, 1.0412, 1.0370, 1.0326, 1.0237, 1.0184, 1.0109 and 1.0053 marks respectively.
     
  • On the other side, a sustained close above 1.0607 will drag the parity higher towards key resistances at 1.0655/1.0751/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) levels respectively.
     
  • RBA says an appreciating A$ could complicate economy's transition.
     
  • RBA includes new forecasts for unemployment, sees 5.75 pct mid-2017 and 5-6 pct out to mid-2019.
     
  • RBA says global economy entered 2017 with more momentum than earlier expected.
     
  • RBA forecasts underlying inflation at 1.75 pct June 2017, 1.5-2.5 pct out to December 2018, 2-3 pct by June 2019.
     
  • RBA cuts GDP forecast for June 2017 by 1 pct to 1.5-2.5 pct, December unchanged at 2.5-3.5 pct, June 2019 2.75-3.75 pct.
     
  • Australia’s December housing finance decreases to 0.4 % (forecast 1.0 %) vs previous 0.9 %.
     
  • Australia’s December invest housing finance decreases to -1 % vs previous 4.9 %.
  • Market Data
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