Aussie bounces, ECB likely to stick
Thursday 7tth March 2024
NAB Markets Research Disclaimer
Financial Services Guide | Information on our services - NAB
The Aussie dollar has led the major sin currency gains today. NAB\u2019s Skye Masters says it follows a fall n the US dollar, with the DXY at its lowest level in over a month. The rise in the Aussie happened despite a lacklustre GDP report for Australia, although the results won\u2019t change the dial on RBA timings. The BoC kept rates on hold and gave no timing on when cuts will happen. The message everywhere \u2013 including in Powell\u2019s testimony to the House Financial Services Committee \u2013 is that more reassurance is need that inflation is heading sustainably lower. That\u2019ll almost certainly be the message delivered at the press conference after the ECB meeting early tomorrow morning (Australia time).
Hosted on Acast. See acast.com/privacy for more information.