RBA June meeting minutes will be published today – clues on a July rate hike?

There are three Reserve Bank of Australia events on the agenda today:

The minutes will be assessed for clues on what may be ahead from the Bank in July. The meeting is on the 4th and after the very strong jobs numbers last week there is a better-than-even probability of a rate hike. Markets are pricing around 60% for a 25bp hike.

Also of interest will be comments from Bullock on policy. The topic of her speech is “Achieving full employment”. The current jobless rate is 3.55%, so that looks done already.

AUD/USD has stabilised after losing ground on Monday with a falling yuan. It subsequently bounced back. I posted yesterday on the Goldman Sachs China GDP forecast also a weight on AUD.

This article was written by Eamonn Sheridan at www.forexlive.com. Source