AUD/USD Update – 05/07/2017 (11:50am) – by Arjun Lakhanpal

July 5, 2017 by

AUD/USD Update – 05/07/2017 (11:50am): AUD remained heavy throughout yesterday’s session following the RBA remaining consistent in their rhetoric, with a market that is keen to expect further momentum away from easing bias in G10 CB’s.  The 1 change of dismissing the language around RBA Growth expectancy to be around 3% was removed, leading the market to think potential downward forecasts in growth and was seen as dovish – hence kept AUDUSD around the 0.7600 level for most of the session despite an upside beat in the retail sales print. The RBA seemed keen to reiterate the message this morning and there is not much on the charts below .7520 until .7500.