Reserve Bank of Australia Monthly Policy Statement- Global Growth Stifled

Reserve Bank of Australia Monthly Policy Statement

Release Explanation: This is the quarterly release from the Reserve Bank of Australia. It contains pertinent articles, speeches, statistical data, and other detailed analysis of current and future economic conditions that are present or might be in the near term for the Australian economy.

Trade Desk Thoughts: The Reserve Bank of Australia has stated that the gross domestic product forecast has been reduced in the wake of slower global demand and that more rate cuts may be necessary. The bank expects unemployment to rise in the near term and can see underlying inflations reaching a peak.

Forex technical Reaction: After gapping at the open of the trading week, the Aussie has reached TheLFB R2 level shortly after the report was released.

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