AUD: No additional easing - RBA Gov Stevens – TDS

FXStreet (Delhi) – Annette Beacher, Chief Asia-Pac Macro Strategist, at TD Securities, notes that the RBA Gov Stevens has clearly shown his negative stance for the additional easing in his semi annual testimony to the House of Representatives Economics committee.

Key Quotes

“The main takeaways from today’s ‘glass half full’ tone:

1) additional easing is not the Bank’s ‘base case’ at this point;

2) the bank is comfortable with the current level of the AUD and interest rates;

3) the significant decline in the AUD is having a positive impact on spending and production;

4) the AUD is not seriously out of line with fundamentals;

5) Gov Stevens expects the Fed to hike rates before Christmas;

6) China is slowing and authorities are responding to that.”