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I didn't trade the news on this one as I felt it was a mixed bag of voodoo magic and abracadabra spells.
For one, the interest rates were not increased amidst Sydney home prices increasing by 1.6% over the quarter. Further, the mining tax and flood levy tax are in full bloom thanks to Julia's message earlier in the day.
RBA's comments on the interest rate inclusive of the fact that the flood would have minimal impact seem to question a lot of the other signals I got from the breakdown of the inflation numbers.
Anyway, if I didn't read news, the AUD looks like it is going to take off. There is a barrier at 1.0040-1.0075 in my opinion. If it breaks this resistance range, we could see a re-test of the highs.
