Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT tid,hits,start_time FROM biztimes_stats.stats_articles_au WHERE tid='537298' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT cmt_count FROM ib_articles_counts WHERE id='537298' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT * FROM ib_sources WHERE id='3001' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT * FROM ib_articles_options WHERE article_id='537298' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT article_id FROM ib_topics_index WHERE tid='268' ORDER BY id DESC LIMIT 10Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT article_id FROM ib_topics_index WHERE tid='389' ORDER BY id DESC LIMIT 10Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT * FROM ib_rates WHERE article_id='537298' LIMIT 1 Australian Dollar Outlook - February 5, 2014 - International Business Times

Australian Dollar Outlook - February 5, 2014

  • Rate this Story
  • 0
  • 0

By Christine Gaylican | February 5, 2014 12:23 PM EST

Bell FX Currency Outlook: The Australian Dollar rises above 0.8900 on Reserve Bank comments.

Australia: As expected, the RBA left its policy rate unchanged at 2.50% yesterday. The Governor's statement following the meeting, however, was
very different to recent months and contained a number of important developments in the Bank's thinking on the economy and monetary policy.


US dollar bills. (Reuters)

Most notably, there was a discrete shift in the Bank's thinking about its policy bias. Monetary policy was assessed to be "appropriately configured"
to foster sustainable growth in demand and inflation.

Furthermore, this neutral bias statement was qualified by "the most prudent course is likely to be a period of stability in interest rates". This latter statement may well be RBA forward guidance, suggesting that rates will not rapidly turn around and rise.

The AUD was also no longer described as "uncomfortably high" and the Bank was more constructive on the domestic economic outlook (although some caveats remain).

Majors: In Europe, there were small losses in most equity markets despite better news in the banking sector (led by UBS) and the bounce back in US shares. Not much in terms of economic data, with only the PPI released which came in at 0.2%mom/-0.8%yoy in December as expected. The EUR has been little changed overnight.
Economic Calendar
05 FEB AU AiG Perf of Services Index Jan
AU NAB Online Retail Index Dec
US ADP Employment Change Jan
US ISM Non-Manf Composite Jan

To contact the editor, e-mail:

(Photo: / )
US dollar bills. (Reuters)
Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT id FROM ib_slideshows WHERE timestamp>1413942599 AND hits>0 AND outkey='Y' ORDER BY hits DESC LIMIT 10Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT id FROM ib_slideshows WHERE timestamp<1413942599 AND timestamp>1413683399 AND hits>0 AND outkey='Y' ORDER BY hits DESC LIMIT 10
  • Rate this Story
  • 0
  • 0

Join the Conversation

IBTimes TV
E-Newsletters

We value your privacy. Your email address will not be shared.