Morning the note of the Bank of the Commonwealth (I chose the excerpt on the AUD)
- AUD/USD remains heavy but is above its month-to-date low of 0.7836 reached yesterday.
- Iron ore futures edged a bit lower yesterday. Iron ore prices have decreased from 815 per tonne, this month while the AUD has been facilitated by 1% cents. The resilience of the AUD to the decline in iron ore prices is due to increases in Australian interest rates; the yield on the 2 year bonds rose 11 basis points this month.
- Vice-Governor of the RBA’s Debelle gives a speech on » the independence of the Central bank, in retrospect,» for a Bank of England conference, but we do not expect AUD to react (7pm London)