Forex Flash: Growing chance of a rate cut at next RBA meeting – TD Securities

FXstreet.com (Barcelona) - This month’s RBA Board meeting minutes refreshed mixed news on offshore (US and China ok, risks from Europe) and domestic activity (retail and house prices up, challenges from strong AUD). “The OIS strip: is pricing a 25% chance of a -25bp rate cut at the next meeting (was 10% chance a month ago) reflecting the emergence of global growth concerns as both the US and China have stumbled in recent weeks”, wrote analyst Annette Beacher, adding that the bill strip is pricing more than one -25bp rate cut by the end of the year (-34bp) “having all but given up only two weeks ago when the more bullish analysts were garnering airplay for a RBA rate hike by year end”.