- Today’s RBA minutes will not contain any surprises as we had the Statement of Monetary Policy last week (which will have included any discussions at the last RBA meeting);
- The fall in iron ore prices back below $100 on the back of weakening Chinese demand is the main driver behind the AUD fall;
- AUD/NZD is losing its short-term bullish momentum after failing to challenge the important resistance band near 1.0900.
I’m sticking with my medium-term buy-dip policy in AUD/USD but will be patient as the bears look to be gaining short-term ascendency, targeting .9150 perhaps?