Aussie testing 0.75 handle

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Monday, Dec 12 2016

Aussie testing 0.75 handle

There are no data releases from Australia today. The Australian Dollar firmed early last week after the Reserve Bank of Australia voted to leave its benchmark interest rate unchanged at 1.50% as highly anticipated. The RBA also made a few minor adjustments to its policy statement although it did not that “some slowing in the year-ended growth rate is likely, before it picks up again.”

RBA Governor Philip Lowe went on to say that further increases in exports of resources are expected as completed projects come on line, and the outlook for business investment remains subdued, although measures of business sentiment remain above average. What can be of an impact on Aussie are rising crude oil prices could influence as well as on Kiwi if they lead to increased demand for commodity-linked assets.

Aussie is currently being traded around 0.7490 level. Pair is likely to find support around 0.7450 handle and resistance above 0.75 area.

More in this category: « UK's current GDP growth rate won't last, warns business body ECB's Weidmann - can't exclude option of state joining Italy bank rescues »

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