After the Twitter-hack news overnight it seems a bit strange discussing other things. This is an article in the Australian press, from the News website late yesterday:
Low interest rates starting to work, says RBA
Comments from Luci Ellis, head of the RBA’s Financial Stability Department:
- There is mounting evidence that near-record-low interest rates are starting to boost the economy
- House prices and loan growth increasing
–
AUD/USD has crawled higher overnight after the sell-off precipitated by the worse than expected China PMI, recovering all the lost ground. Sellers are clustered around 1.0270, with bids 1.0200/20 still. I’ll be back with more levels soon.