Analysts at UOB Group noted that the RBA's Governor Stevens told an audience
yesterday that the next monetary policy move is more likely to be a cut than a
hike.
Key Quotes:
"Reiterating his message from
Tuesday when the central bank left the cash rate on hold at a record-low of
2.0%. AUD continued to ease on Thursday following a strong run over the last few
sessions."
"The spot traded lower overnight in line with the dollar
strength and risk off sentiment."
"We are still long at 0.7185, looking
for 0.7260/90. Only a move below 0.7115 violates our bullish call."
