More rate cuts no RBA's imminent measure

The past rate cuts (the last time the Reserve Bank of Australia cut interest rates was in May) are still having a positive effect on overall demand. That was the key message the RBA's meeting minutes of the meeting on 6th October contained. That means for the FX market: further rate cuts have become less likely for the time being, says Commerzbank. That is good news for AUD. 

It can benefit easily, but larger moves are unlikely as the central bank continues to paint a more difficult picture of the economy. Even if there is clearly no immediate need to act, further rate cuts are not off the agenda by any means.