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Flash: RBA minutes might not draw much reaction - NAB

FXstreet.com (Barcelona) - The RBA releases its May Board minutes today at 1.30GMT, when a surprising decision to cut rates to record lows was taken. This is a relevant event for AUD traders as it provides clues about the economy and outlook.

However, according to NAB, it may turn out to be a bit decaffeinated after all, "given the subsequent release of their growth and inflation forecasts in their quarterly Statement the Friday before last, thus this one might not draw much reaction" the bank said.

Nevertheless, NAB "will be looking for any hints as to whether June might potentially see another cut" they said, adding that "next week’s May 30 CapEx Q1 data will be key in the lead up to the June RBA Board meeting."

EUR/JPY holding below 132.00 as Yen strengthens

EUR/JPY is last at 131.77, near session lows, and -0.62% lower for the week so far, mostly on the back of a stronger Yen, even though Euro has also been stronger than USD. The cross has managed to recover from yesterday's massive selling off in early Asia-Pacific trade, following Japan FinMin Amari words on Yen, reaching a fresh weekly low at 130.89.
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Commodities Brief: Metals have roller-coaster of a day as buyers defend previous lows

It was an extremely volatile day for the precious metals markets, initially trading sharply lower as trading began during the Asia session, before aggressive buyers stepped in which led to a massive reversal throughout both the European and US Sessions and concluded with a positive close.
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