AUD crosses edge higher in the wake of the...>

AUSSIE: AUD crosses edge higher in the wake of the RBA MonPol decision which saw

the Bank leave the cash rate unch. at 1.00%.

- The Bank highlighted downside risks to the global economy, as well as further

easing measures employed by Chinese policymakers. There was a very nuanced

change in the concluding paragraph, to broaden the focus outside of the domestic

labour market, but that shouldn't really alter the assumed trajectory for

policy. The assessment of the housing market noted the upturn in prices in

established housing markets, although noted that new dwelling activity has

weakened. Language on inflation is a little more downbeat, although that is a

bit of a given in the wake of the SoMP. The RBA noted that "inflation pressures

remain subdued and this is likely to be the case for some time yet." The limited

uptick for AUD likely comes on the back of no outright panic in the statement,

which would indicate a steeper trajectory for any monetary easing that is in the

pipeline. Remember, the RBA's SoMP was based on the 2 cuts that were/are priced

into market. Technical picture for AUD/USD & AUD/NZD remains constant with that

outlined in earlier bullets.