Intra-Day Market Moving News and Views
05 Feb 2016 01:11GMT
AUD/USD - ..... The RBA just released its Monetary Policy Statement, Reuters reported Australia's central bank sees sub-trend economic growth and tame inflation in the year ahead, but said any cut in interest rates will depend on whether the labour market deteriorated and if recent financial market turbulence pointed to a weaker global economy.
In its 66-page quarterly report on monetary policy released on Friday, the Reserve Bank of Australia (RBA) highlighted the surprising strength of the labour market which led it to cut forecasts for the jobless rate.
The past decline in the local dollar had also been a key support for the economy, particularly service exports ? a trend it expects will continue. It reiterated that continued low inflation would provide scope for further rate cuts, should that be needed to support demand.
At its first policy review for 2016 on Feb. 2, the RBA left the cash rate unchanged at a record low 2.0 percent, where it has been since May last year.
Data to be released on Friday:
Australia retail sales, Germany factory orders, France imports, exports, trade balance, U.S. unemployment rate, non-farm payroll, average earnings, private payrolls, manufacturing payrolls, participation rate, trade balance, Canada imports, exports, international balance, participation rate, net change in employment and Ivey PMI.
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