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Should we expect several Interest Rate Hikes this December? What about Australia?
Investors awaiting for Interest Rate Hikes this December, meanwhile RBA had left the office cash rate unchanged at 1.50% last week.
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The week ahead was relatively quiet with no major macro themes for the markets to fall back upon.
The euro opened on a lower note on Monday after news reports emerged that the German coalition talks fell apart.
The FOMC meeting minutes were the next major data point of interest. The Fed minutes did not reveal anything new for the markets.
Officials were seen focusing on hiking interest rates in December. Economic data from the U.S. released over the week was mixed with durable goods orders declining 1.2% on the month.
RBA minutes dovish as central bank stays cautious
The Reserve Bank of Australia released the meeting minutes on Tuesday last week which briefly sent the Australian dollar lower.
The RBA had left the office cash rate unchanged at 1.50%, which was a record low at its monetary policy meeting on November 7.
The meeting minutes showed that the central bank officials were concerned about the currency’s appreciation which was seen to be hindering growth.
The minutes also showed that officials were concerned about considerable uncertainty and when wage growth could start to lift.
Recent data showed that Australia’s labor market while tightening still saw wage growth to remain subdued.
