Who said … "the exchange rate … remains above most estimates of its fundamental value"? via ForexLive

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Due at 1.20pm Sydney time (0320GMT, 2320NY time) … speech time!

  • Address by Glenn Stevens, Governor of the Reserve Bank of Australia (RBA), to the Committee for Economic Development of Australia (CEDA) Luncheon

We got the September RBA decision yesterday … RBA: No change to cash rate target – Sees likely period of interest rate stability

Gonna be interesting hearing what Stevens has to say. He'll be bouyed by the slide in the AUD over the past 24-odd hours. The accompanying statement yesterday said the AUD was … what was the language … here it is … “the exchange rate, on the other hand, remains above most estimates of its fundamental value, particularly given the declines in key commodity prices. It is offering less assistance than would normally be expected in achieving balanced growth in the economy.”

I expect more along this sort of line from him today.

posted via ForexLive

Posted In: FuturesForexGlobalEconomics
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