Daily Alert – Tuesday 19th October 2021: Hawkish RBA boosts AUD

Mark NugentDaily Alert, Oct 2021

Daily Alert – Tuesday 19th October 2021: Hawkish RBA boosts AUD

Good morning traders.

Yesterday was indecisive from a sentiment point-of-view. Four of the five measures used in the calculation were indecisive with only the US 10-year yield (and also the 2-year yield) showing any movement, both being moderately up.

The Reserve Bank of Australia meeting minutes were hawkish, with the bank re-iterating that they see the economy returning to pre-pandemic levels in H2 2022 and they see a first rate hike in 2024. The markets however, see that first hike in mid-2022. Any way you look at it, the bank is hawkish. The AUD rose.

Today has nothing on the calendar until API crude oil inventories later tonight.

We’ll be back tomorrow.

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