Today is Sun, October 22, 2017 4:51:26 GMT
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Currencies AUD Aussie (AUD) Explodes Higher On RBA Minutes!

It was just a matter of time before the decent global economic data outweighed the risk emanating from the Euro debt crisis and today is that day.  The release of the minutes from the RBA rate policy meeting showed that the Central bank sees global growth in its trading partners despite the threat to stability from Europe.

The bank does not see a reason to ease policy further given these developments, which means it is risk on for the currency.  Combine that with good economic data from around the globe and positive developments on Euro debt yields and away we go!

The Aussie has rallied some 200 pips and could continue to move higher if we do indeed get the Santa Claus rally the markets have been hoping for.  With Japan increasing its warchest for future potential intervention, the carry trade is back and yield seekers are piling into the Aussie.

If you are not long the Aussie already, I would advise waiting for a pullback to participate in this rally. Game on!