Markets  |  February 19, 2013 09:15:00

How does the Australian economy, the central bank?

Australia's central bank (RBA) today in the early morning published its minutes of the last meeting of the Board held on the 5th February 2013. The minutes revealed that reduced interest rates (3 percent), according to the RBA are starting to bear fruit. Economics by RBA gaining good pace and he can enjoy the fact that low inflation by providing scope for further easing of monetary policy if needed.

Recall that the RBA Governor Glenn Stevens, together with the Bank Board to keep interest rates early February unchanged. Stevens in his response not fortunate, how strong the Australian dollar (AUD) and together with the Bank Board says that does not reflect the economic situation of the country.2.2 percent inflation also remains at the core of attention, and if no improvement in domestic demand, which pulled up inflation (inflation target of 2-3 percent), it will probably have to intervene RBA further lowering interest rates. Overall, however, Australia can rejoice, because its biggest trading partner China, according to the World Bank this year to accelerate its economic growth to 8.4 percent.

AUD / USD is still holding the downward trend line that has already gained a number of tests. During this time, therefore, could once again be reflected downwards. The problem is that AUD / USD has created the 4 hours chart, higher low, which indicates a change in trend, so we should focus on the reaction of prices to trend line and Fibonacci levels of 23.6.

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