RBA left cash rate at the record low of 1.5%, which was widely expected. The bank highlighted soft labour market, slow wage growth and low inflation. It urged lenders to step up reforms to address risks associated with high and rising levels of indebtedness. A dovish statement.
Aussie dollar fell 20 pips immediately and another 20 pips in the first two hours after the release. 0.7550 (200 DMA, mid March consolidation) is the initial support before stronger one near 0.75 (100 DMA, March low). 0.7…
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