Australian dollar getting sold after China rate cuts, RBA minutes, miss on wages data

China rate cuts info is at these links, cuts to both the MLF and reverse repo rate:

The People’s Bank of China cut the MLF to 2.5% from 2.65 previously:

And cut the reverse repo rate to 1.8% from 1.9% previously

And the RBA minutes:

The minutes indicate a patient RBA.

Also out were wages data, a miss. These will not be a factor prompting the RBA to hike again any time soon:

The yuan is lower also:

It all adds up to AUD being marked down:

This article was written by Eamonn Sheridan at Source