Forex Flash: RBA to hold rates until April at least – NAB
“It is possible, but not likely, that the release of the Capex report later this week will put a rate cut back on the table for the March RBA meeting,” say analyst team at the NAB, “So we continue to expect the RBA to remain on hold next week and also in April,” they add.
HSBC Manufacturing PMI in China for the month of February has surprisingly weakened to 50.4 vs. 52.2 expected and 52.3 last print in January. After months of upward adjustments, investors will star to wonder whether this is a one-off event due to new year seasonality effects or there is some substance behind. The Aussie is lower on the news.