RBA minutes set for release today
The minutes from the November meeting of the RBA will be released at 11.30 am Sydney time and they will be followed by some remarks from Governor Glenn Stevens. The market will be looking out for any mention of the AUD level.
Any rallies towards .8800 will run into heavy selling interest and dips to .8650 will be similarly well supported. Range trading is the likely order of the day, barring any unexpected comments from Mr Stevens.
AUD/NZD is also worth watching as it slips toward the lower end of its 1.09/1.13 consolidation range.