Intra-Day Market Moving New and Views
03 Sep 2014 04:09GMT
AUD/USD - .... RBA Governor Glenn Stevens' speech in Adelaide, quote:
'not in position to change stance on policy stability;
A$ above most metris of fair value;
Australian assets still remain attractive to foreign investors;
foreign demand major reason why A$ remains high.'
he said that: not in position to change stance on policy stability;
A$ above most merits of fair value;
Australian assets still remain attractive to foreign investors;
foreign demand major reason why A$ remains high.
-Stevens says policy must avoid build up of financial sector risk
- would be unwise to further inflate high house prices with rates
-best thing rba can do for economy is to run an accommodative policy and rates are very low
-has made clear his views on relatively high a$, won't repeat them
-unemployment rate is "concerning", though clouded by data distortions
-labour market has degree of spare capacity, some time before unemployment falls
-taking gdp for q1 and q2 together, points to moderate growth
-signs are growth continuing in current quarter
-data show further upgrading of non-mining investment, like to see more
- business balance sheets healthy, well placed to increase investment
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