Results of the RBA meeting

Today at the beginning of the day, the minutes of the meeting of the Reserve Bank of Australia on monetary policy for November 7 was published. As a result, the RBA left the key interest rate unchanged at 1.5%, and said that the prospects for the development of the Australian economy remain consistent.

This protocol was very ambiguous, as a statement was made about the possibility of discussing the increase in rates due to the GDP growth. But, it was also noted that any strengthening of the Australian would be negative for the Australian economy.

As a result, the pair AUD/USD weakened moderately on the general strengthening of the American, thus having reacted to this RBA protocol in a limited way. This pair remains in a stable downward corridor, limited to support levels: 0.7510-00 and 0.7480-70, resistance: 0.7570-80 and 0.7600-20.

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Hanzenko Anton