News and Market Analysis

AUD rallies ahead of the RBA minutes

Soon the Reserve Bank of Australia will release minutes of the latest monetary policy. with mixed reading coming from the RBA of late, traders are keen to see what comes from he minutes for a more mid term outlook. We have seen an improvement in retail sales from -1.1% to 0.0%YoY and our relationship with China seems steady, with the AUD recovering we could see the Aussie push through the 0.7300 resistance. However it hang on by a fundamental thread as any negative news could see it break its recent trend and drop to 0.7260. A break above 0.7300 could see the pair go to 0.7340 and 0,740 respectively.

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