Intra-Day Market Moving News and Views AUD/USD
20 Aug 2014 02:39GMT
AUD/USD - ... The Aussie chopped around after RBA Governor Glenn Stevens' testimony b4 the House of Standing committee ahead of Asian open, short-term specs were selling the AUD after NY close but when Stevens did not jawbone the Aussie lower, shorts covered their positions and lifted price on 0.9318.
Below were Stevens testimonies released on Reuters :
-remains view that on most metrics would be surprising if A$ remains so high
-risk of A$ fall is under appreciated
-puzzled why u.s. dollar is not higher given u.s. is recovering
- intervention on A$ part of tool kit if thought useful
-have not considered intervention useful so far
-would not want to give advance warning if did consider intervention
-economy does not need draconian fiscal tightening right now
-budget problems are in the medium term
-recent reading on unemployment was a weak one, difficult to interpret
RBA's Kent says unemployment not to fall sustainably until late 2015,
early 2016
Stevens continued - A$ high in part because global capital finds Australia attractive
-has not thought about raising rates
-says expects fairly subdued result for Q2 QDP
-have not felt that intervention would work at current A$ levels
-would consider lower rates if thought it would be helpful
-but does not think interest rates the answer right now
20 Aug 2014 02:39GMT
AUD/USD - ... The Aussie chopped around after RBA Governor Glenn Stevens' testimony b4 the House of Standing committee ahead of Asian open, short-term specs were selling the AUD after NY close but when Stevens did not jawbone the Aussie lower, shorts covered their positions and lifted price on 0.9318.
Below were Stevens testimonies released on Reuters :
-remains view that on most metrics would be surprising if A$ remains so high
-risk of A$ fall is under appreciated
-puzzled why u.s. dollar is not higher given u.s. is recovering
- intervention on A$ part of tool kit if thought useful
-have not considered intervention useful so far
-would not want to give advance warning if did consider intervention
-economy does not need draconian fiscal tightening right now
-budget problems are in the medium term
-recent reading on unemployment was a weak one, difficult to interpret
RBA's Kent says unemployment not to fall sustainably until late 2015,
early 2016
Stevens continued - A$ high in part because global capital finds Australia attractive
-has not thought about raising rates
-says expects fairly subdued result for Q2 QDP
-have not felt that intervention would work at current A$ levels
-would consider lower rates if thought it would be helpful
-but does not think interest rates the answer right now
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