Intraday Market Thoughts

Archived IMT (2009.03.16)

by Ashraf Laidi
Mar 16, 2009 19:18

AUSSIE BULL INTACT: Tonight's release of the minutes (Tues 12:30 am GMT) from the Reserve Bank of Australia will shed light on the cenbank recent decision to hold rates unchanged for the first time in 6 months, after having cut rates by 400-bps. Although RBA appeared to keep the door open for further rate cuts, market conditions could prompt the central bank into another rate hold next month if signs of stability in global equity markets persists, however, temporary that proves to be. I'm not giving up the possibility for another unchanged decision on interest rates. Aussie eyes 0.6720 after breaching 0.6630 (target in Fridays charts analysis). Key resistance stands at 0.6820.


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