According to the minutes of the RBA’s September 5 meeting, the central bank remains upbeat on growth, indicating that it believes the economy is moving into a new phase as it shrugs off a lengthy downturn in mining investment while job market conditions also improve. In the minutes, the RBA noted a broad job market improvement, and that recent data continued to support its forecast for 3.0 percent GDP growth in 2018.
Aussie little changed in a quiet Monday trade
There were no major data releases from Australia today, with Aussie being traded in a tighter range. An optimistic Reserve Bank of Australia (RBA) drove the Australian Dollar higher early in the week, but prices tumbled by the end of the week in reaction to the Fed’s hawkish tone. The AUD/USD settled at .7959, down 0.0041 or 0.51%.
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