AUD Rises vs. USD, Flat vs. Other Majors

The Australian dollar fell against its US counterpart after the release of monetary policy minutes from the Reserve Bank of Australia, but the managed to rebound as of now. At the same time, the currency was mostly flat versus its other most-traded rivals.

The RBA released minutes of its November 1 policy meeting today. The notes were fairly neutral, making several remarks about balanced risks to inflation, like:

The overall assessment was that the risks around the inflation forecast were broadly balanced.

Considering that the central bank has released an extensive policy statement at the beginning of the month, the minutes did not provide many new insights into plans of the RBA. What may provide more information is the speech of central bank’s Governor Philip Lowe scheduled for 8:15 GMT today.

Looking further ahead, employment data released on Friday should be the most important economic report from Australia this week. Forecasters predict that it will show solid employment growth, yet also an increase of the unemployment rate.

AUD/USD rallied from 0.7553 to 0.7567 as of 1:36 GMT today. EUR/AUD traded close to the opening level of 1.4208 and AUD/CHF was near the opening of 0.7533.

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