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AUSSIE
AUSSIE: AUD finds itself at the bottom of the G10 piles, AUD/last $0.7275. There
has been little in the way of fresh news flow overnight, with the cross perhaps
pressured by AUD/NZD flows.
- AUD/USD was unchanged over the release of the minutes from the RBA's Nov
MonPol meeting, with the Bank reiterating that the next move in its cash rate is
likely to be up, and that it sees no strong case for an adjustment in MonPol.
The Bank reiterated that it is unsure about the spare capacity within the labour
market, suggesting that the unemployment rate could fall further in the
near-term, while it highlighted that real earnings had not risen for 6 years.
The Bank noted that Biz investment could top exp.
- Initial support is noted at the 100-DMA at $0.7256, followed by the Nov 16 low
at $0.7250, and the Nov 15 low at $0.7229.
- Focus now onto RBA Gov. Lowe's address later today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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