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Key events in Australia - RBS

FXStreet (Bali) - RBS FX Strategists review the Asian session ahead, noting Aus Q2 GDP and RBA Stevens speech as key events.

Key Quotes

"The AUD weakened after the RBA stepped up rhetoric against the AUD in its September statement, saying it “remains above most estimates of its fundamental value.”

"Governor Stevens is also due to speak tonight and may use that forum to qualify, or go further, on the language included in the statement. After discussing potential FX intervention quite candidly in a testimony to Parliament several weeks ago, there is certainly a risk that Governor Stevens clarifies if or how the phrase added to the statement changes the calculus for potential currency intervention."

"Second-quarter GDP is released in Australia as well, and domestic data have largely improved recently, with cap-ex in non-mining in particular surprising to the upside."

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