Helena Izotova
According to the latest reports published by the RBA, the Reserve Bank Board Members are willing to consider the inflation data for Q1 2012 prior to making their interest rate decision.
The latest stats suggest a more considerable economic slowdown in Australia that expected by the central bank. The RBA has already downgraded its forecasts for Australia’ economic performance in 2012. The further easing of the monetary policy will become possible as long as lower demand results in a lower rate of inflation.
The RBA members are fully aware of the possibility of poorer economic performance due to the eurozone crisis and China’s economic slowdown.
Forex.
According to , AUDUSD keeps recovering against the major downtrend. AUDUSD is said to have finished forming wave А/В of Н4. A break above 1.0450 will start a mid-term rally in the form of wave А/В with Daily potential. The closest levels of resistance are located at 1.0464, 1.0556, 1.0636. A break below the local low will resume the forming of wave А/В. If this is the case, 1.0151, 1.0120 will turn into major levels of support.
Helena Izotova
