Australian Dollar Outlook - 19 August 2014

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By Christine Gaylican | August 19, 2014 10:00 AM EST

Bell FX Currency Outlook: AUD flat reacting to limited news flow and the uneventful RBA Minutes release, which had been taken into consideration by the markets. Northern Hemisphere is taking in the last of the summer holidays.

Reuters
A picture illustration shows U.S. dollar bank notes

Australia: Little currency impact is expected from the Minutes from the August RBA Board meeting will be published today. Given the Statement on Monetary Policy was released after the meeting there may be minimal further insights from this.

RBA Governor Glenn Stevens, in his appearance before the House of Representatives Economics Committee tomorrow, may provide some additional colour on the Bank's thinking.

The weekly ANZ-Roy Morgan measure of consumer confidence is published at 9:30AEST today - it declined sharply, by 5.7% last week.

Majors: Geopolitical developments continued to settle, supporting risk sentiment. GBP failed to increase after opening higher in Asia on the back
of BoE comments, implying GBP/USD remains relatively well offered.

EUR/USD was under pressure after the Bundesbank took a pessimistic tone in its monthly report and the USD was supported by an improvement in the US August NAHB housing index which increased to 55 (mkt: 53) in August, from 53 in July, which was a seven month high. This is encouraging and suggests that housing market conditions may improve modestly going forward.
Economic Calendar
19 AUG AU RBA Minutes Aug
RBNZ 2yr Inflation Expectation Survey
UK CPI MoM/YoY Jul
US CPI MoM/YoY Jul

For the latest pricing, ranges visit www.bellpotter.com.au

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(Photo: Reuters / )
A picture illustration shows U.S. dollar bank notes
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