04.11.2014 - RBA statement did not affect the mood of investors

Reserve Bank of Australia today released its statement according to which the growth of most macroeconomic indicators of Australia remains moderate, investment in the resource sector shows a significant decrease, a problem for the country remains the weakening of the housing market in China, leading indicators of the labor market are improving. At the same time the bank has traditionally noted the Australian currency overvaluation. Given the weak growth rates, the fall in commodity markets and the risks associated with slower growth and construction crisis in China, we maintain a medium-term negative outlook and recommend holding short positions on the Australian dollar.

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