5/4/2021 10:06:08 AM GMT
Notes/Observations
Asia
- RBA left Cash Rate Target unchanged at 0.10% and maintained its 3-year Yield Target at 0.10% (both as expected); Keeps its dovish undertones and put focus on its July meeting whether to retain the April 2024 bond or shift into the November 2024 maturity for its 3-Year Yield Target; to also consider a 3rd QE program at that time.
- Australia Mar Trade Balance: A$5.6B v A$8.2Be.
- Australia MP Ted O Brien seeks to fight Communist China with boycotts and sanctions.
- Analysts believe that if Australia terminated the lease of Port Darwin to the Chinese early it could kill all future Chinese investment into Australia.
AUD/USD Eyes February High After Australian Q4 GDP Beat 2021-03-03 00:30:00 Brendan Fagan,
Australian Dollar, AUD/USD, GDP – Talking Points
Q4 GDP comes in at -1.1% YoY against an expectation of -1.8%
AUD/USD cautiously higher after the release, pushing towards 0.784
The Australian economy looks set to rebound swiftly from the COVID induced recession Advertisement
The Australian Dollar climbed after Australian Q4 GDP came in at -1.1% year-over-year (YoY), against an expected reading of -1.8%. The strong beat, coupled with a 3.1% (QoQ) growth rate, compounded recent Aussie strength as the outperformance of the economy attracted more AUD/USD bulls.