AUD unmoved by RBA speeches – TDS

Analysts at TDS point out that there were two RBA speeches and as expected neither were meaningful for AUD or OIS.

Key Quotes

“Lowe's speech about an eAUD is of curiosity value while Kent's speech focussing on business finance isn’t relevant for Australia’s biggest firms (miners and banks issue paper or go to the equity market for finance).  Headlines focussed on Lowe being anti-bitcoin.  The actual quote is “When thought of purely as a payment instrument, it seems more likely to be attractive to those who want to make transactions in the black or illegal economy, rather than everyday transactions … So the current fascination with these currencies feels more like a speculative mania than it has to do with their use as an efficient and convenient form of electronic payment.”

“AUD: Consumer sentiment in Dec ends the year with a pop to 103.3, only the second time this year printing over 100.  The increases were across the board, but special shout out to family finances up +15% and 9% in recent months.”