Trade Desk Thoughts - Australia Reserve Bank Bulletin

Trade Desk Thoughts: World economic health has continued to moderate while activity in the United States remains weak as financial turbulence continues to weigh on growth. While in contrast to developing countries, activity remains strong in most emerging markets. IMF forecasts published in July showed that global growth is around 4 percent in both 2008 and 2009. Meanwhile developments in commodities markets have been mixed in recent months.

Forex Technical Reaction: The Australian dollar is trading mixed after the Reserve Bank bulletin announcement. Currently the pair is sitting just above the neutral pivot point

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