RBA likely to keep key rate unchanged

Some market participants may quietly be hoping for a rate cut from Reserve Bank of Australia, as the central banks of Canada and New Zealand took action recently and reacted to the renewed downtrend on the commodity markets with rate cuts. 

"The Reserve Bank of Australia (RBA) is likely to leave its key rate unchanged at 2.00% tonight", says Commerzbank.

Australia, another commodity exporting nation, is often put in the same category. However, as the economy down under seems to be doing quite well we assume that these market participants will be disappointed tonight. 

"AUD might initially find some support. However, the RBA will at least keep the door wide open for a further rate cut in case the situation on the commodity markets and in China does not improve", added Commerzbank.