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AUD: No additional easing - RBA Gov Stevens – TDS

FXStreet (Delhi) – Annette Beacher, Chief Asia-Pac Macro Strategist, at TD Securities, notes that the RBA Gov Stevens has clearly shown his negative stance for the additional easing in his semi annual testimony to the House of Representatives Economics committee.

Key Quotes

“The main takeaways from today’s ‘glass half full’ tone:

1) additional easing is not the Bank’s ‘base case’ at this point;

2) the bank is comfortable with the current level of the AUD and interest rates;

3) the significant decline in the AUD is having a positive impact on spending and production;

4) the AUD is not seriously out of line with fundamentals;

5) Gov Stevens expects the Fed to hike rates before Christmas;

6) China is slowing and authorities are responding to that.”

AUD/JPY supported by hourly 100-MA

The risk aversion post Fed decision pushed the AUD/JPY lower, but the pair managed to sustain above its hourly 100-MA and ticked moderately higher in Asia today to trade around 86.30 levels.
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SNB Review: Significantly overvalued CHF, dovish stance - Nomura

Research Team at Nomura, note that although the SNB acknowledged “a slight depreciation” of CHF, it said the currency was still significantly overvalued and maintained a dovish stance in its yesterday’s policy meet.
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