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Weekly roundup: Australian dollar dented by signs of RBA caution

currency-newsWeekly roundup: Australian dollar dented by signs of RBA caution
As the Reserve Bank of Australia (RBA) expressed some concern over rising house prices, this limited the appeal of the Australian dollar.
Although the central bank does not seem likely to make any monetary policy changes in the near term, this expression of caution left investors with little reason to favour AUD exchange rates.
The Australian dollar also softened even as building permits figures bounced back sharply in February.
Meanwhile, as the ANZ business confidence index fell deeper into negative territory for April, this dragged the New Zealand dollar lower.
Support for the New Zealand dollar could prove limited ahead of the Reserve Bank of New Zealand’s (RBNZ) April policy announcement.
While no change is expected, markets remain wary of the potential for a greater show of dovishness from policymakers.
On the other hand, the Australian dollar could find a rallying point on Thursday as long as March’s unemployment rate shows a fresh dip.
Philip McHugh

Philip McHugh

Joining the corporate trading desk in 2007, Phil now over sees all of Currencies Direct’s corporate dealing activity. Having gained experience working with hundreds of businesses to optimise international payments processes and execute comprehensive risk management strategies, Phil currently works with a portfolio of corporate clients whilst managing Currencies Direct’s overall market exposure

Phil has FCA approval and has completed the Certificate in International Treasury Management (CertiTM)

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