Source: ForexYard
Tomorrow’s early morning release of the Reserve Bank of Australia’s (RBA) monetary policy meeting minutes will not likely carry a hefty impact on currency markets, though the commentary will be very prescient for analysts interested in what the RBA has to say about the current freefall of Australia’s economic outlook.
No doubt Australia’s economy is coming under pressure lately. Housing reports seem to have leveled off, giving few indications of growth. Consumer confidence seems to be rickety, at best. Commodity prices are helping to hold the value of the AUD from entering a deeper devaluation, but high export prices and interest rate appear to be pulling some value away from the Aussie economy. What the RBA notes in its minutes will be worth reading for savvy investors.
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