The Reserve Bank of
"Monetary policy remains accommodative," said the RBA in a statement, "inflation is expected to be consistent with 2%-3% target, and we see a period of interest-rate stability." The RBA has left the cash-rate at a record low since
"Signs of improvement in non-mining investment is tentative," said the RBA, "[there] are signs of moderation in pace of house price increases."
On the job front the RBA sees some time before unemployment declines consistently, and expects
DailyFX Strategist Ilya Spivak holds a bearish outlook for the Australian Dollar, citing Australian economic data has increasingly underperformed relative to market expectations. He does not see the RBA in a hurry to change their policy stance. Traders may look to US news-flow for directional cues on AUD/USD.
The technical perspective suggests the Australian Dollar is vulnerable to deeper losses after the rate broke below support at the bottom of a rising channel set from late January, according to Spivak.