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RBA gives positive assessment of the jobs market

Tuesday, Oct 20 2015
Aussie was pushed slightly higher this morning despite RBA Meeting Minutes showing mix of economic concerns about demand abroad and at home as the key guide for the outlook on rates, while also noting that risks in house prices are growing. The minutes contained a positive assessment of the jobs market from the bank's board, and comments that regulatory efforts to dampen investor activity in the property market appear to be kicking in. 
 
The RBA held rates steady at a record low of 2.0 per cent earlier this month, but offered no guidance on the prospect of a further cut. Yet, financial markets have narrowed the odds of an easing in part to offset a surprise 20-basis point increase in mortgage rates by Westpac, the country's second largest lender.
 
Aussie is currently being trade around 0.7270 area. Pair is likely to find support around 0.7230 level and resistance above 0.73 area. Later today, in the US session, Building Permits and Housing Starts figures are scheduled for a release.
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