Published: 2024-04-02T05:04:20.000Z
AUD/USD flows: RBA Mintues Show No Hike Discussion
FX Analyst
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RBA minutes show there was no discussion of hike
Australian private inflation survey for March drops to 3.8% y/y (prior 4%)
"National Team" seen selling USD/CNY
RBA minutes show there was no discussion of hiking the the March meeting. The forward guidance wordings were changed in the last meeting and continue to suggest data dependency as the driving factor for rate path. The current inflation figure does not support a rate decision change in the coming meeting. In sight of USD strength, "National Team" were seen selling USD/CNY to support Yuan.
Regional sentiment in Hong Kong is strong but not elsewhere. AUD/USD is trading unchanged at 0.6490.