AUD rose after release of RBA minutes

Intra-Day Market Moving News and Views 
16 Feb 2016 01:16GMT

AUD/USD - ...... Aud rose after release of RBA minutes. Reuters reported Australia's central bank said the pace of economic growth should pick up gradually in the next few years without inflation being a problem, a benign mix that might provide it with the scope to cut interest rates further if needed. 
In minutes of its Feb. 2 meeting, where the Reserve Bank of Australia (RBA) kept the cash rate at a record low 2.0 percent, the central bank reiterated that very low rates and a weaker local dollar were already underpinning growth. 

Based on the available data and the forecasts for economic activity and inflation, members judged that it was appropriate to leave the cash rate unchanged at an accommodative setting,the central bank said. 
There continued to be evidence that very low interest rates were supporting growth in household consumption and dwelling investment and that the depreciation of the exchange rate was boosting demand for domestic production as it adjusted to the evolving economic outlook.

There was nothing in the minutes to suggest that the central bank has shifted its conditional easing bias. The Board noted that the outlook for continued low inflation may provide scope for easier monetary policy, should that be appropriate to lend further support to demand. 

Highlighting the RBA's level-headed approach to things, the Board began their discussion with developments in the domestic economy, while shrugging off the hysteria surrounding the recent turmoil in global financial markets. 
The RBA said whether financial market turbulence presaged weaker global and domestic demand remained to be seen, their next meetsing due on March 1. 

Data to be released on Tuesday: 

New Zealand retail sales, inflation expectation, Italy trade balance, U.K. CPI, core CPI, retail price index, producer price index, house price index, Germany ZEW current situation, economic sentiment, Eurozone economic sentiment, Canada manufacturing sales, U.S. housing market index, overall capital flows, foreign buying T-bond, NY Empire State manufacturing index and net long-term TIC flows.