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Australian Dollar Rises, With RBA in Wait

The Australian dollar rose Tuesday, as fresh commentary from the country's central bank provided currency traders with little signs that further interest-rate cuts are imminent. Policy-makers at the Reserve Bank of Australia left interest rates on hold at 1.50% on Oct. 4, with meeting notes showing they want to see if two prior rate cuts this year are having any impact on lifting weak inflation. The next inflation report, due in late October, would "provide an opportunity to consider the econo…
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Solution for India's Export Slowdown Doesn't Lie in Rupee

India's share in global exports has been meagre compared even with other emerging markets, largely due to India-specific problems rather than the level of the rupee or anemic global growth, . "Looking at the drivers of overall exports, we find that domestic bottlenecks explain 50% of the recent export slowdown, followed by world growth at 33%,". To boost exports, rather than devaluing the rupee as some suggest, India needs to fix basic problems like lack of cotton for textiles, poor irrigation f…
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Aussie Dollar To Gain Vs Crosses; RBA Gov Speaks

AUD/USD edged up above US$0.7600 Friday on higher commodity prices, mostly iron ore and coking coal, and a lift in European equities. CBA expects AUD to struggle against a firm USD this week. However, a solid increase in September Australian employment of 15,000 (data Thursday) and upside risks to China's 3Q GDP growth will support the currency, particularly on the crosses. RBA Governor Philip Lowe speaks on "inflation and monetary policy" on Tuesday.
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