{"id":22394,"date":"2014-05-06T22:40:28","date_gmt":"2014-05-07T05:40:28","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=22394"},"modified":"2014-05-06T22:40:28","modified_gmt":"2014-05-07T05:40:28","slug":"monetary-policy-cruise-control-in-australia","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2014\/05\/06\/monetary-policy-cruise-control-in-australia\/","title":{"rendered":"Monetary Policy On Cruise Control in Australia"},"content":{"rendered":"<p><strong>(This is an excerpt from an article I originally published on Seeking Alpha on May 6, 2014. <a href=\"http:\/\/seekingalpha.com\/article\/2192793-monetary-policy-on-cruise-control-in-australia\" target=\"_blank\">Click here to read the entire piece<\/a>.)<\/strong><\/p>\n<p>The Reserve Bank of Australia seems to have abandoned efforts to push the Australian dollar (FXA) around. <a href=\"http:\/\/www.rba.gov.au\/media-releases\/2014\/mr-14-07.html\" target=\"_blank\">The latest monetary decision<\/a> contained no surprises and looked like a near carbon copy of the few before it. The April and May statements are so similar, I had to reread the May statement to make note of the subtle adjustments.<\/p>\n<p>{snip}<\/p>\n<p>In other words, monetary policy is on cruise control in Australia. Perhaps the only immediate catalyst on the horizon that might interrupt this regularly scheduled programming is the unfolding resurgence in housing.<\/p>\n<p>Appropriately, the currency has essentially gone nowhere (versus the U.S. dollar) since the last decision. It is slightly weaker against the British pound and Japanese yen.<\/p>\n<p><center><br \/>\n<figure id=\"attachment_22397\" aria-describedby=\"caption-attachment-22397\" style=\"width: 540px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2014\/05\/140506_AUDUSD.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2014\/05\/140506_AUDUSD.png\" alt=\"The Australian dollar is on cruise control as it continues a general drift upward with its 50-day moving average (DMA)\" width=\"550\" height=\"375\" class=\"size-full wp-image-22397\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2014\/05\/140506_AUDUSD.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2014\/05\/140506_AUDUSD-300x204.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-22397\" class=\"wp-caption-text\">The Australian dollar is on cruise control as it continues a general drift upward with its 50-day moving average (DMA)<\/figcaption><\/figure><br \/>\n<strong>Source: <a href=\"http:\/\/www.freestockcharts.com\/\" target=\"_blank\">FreeStockCharts.com<\/a><\/strong><br \/>\n<\/center><\/p>\n<p>Under the current circumstances, I find it difficult to get overly excited about the bull or bear case on the Australian dollar. {snip}<\/p>\n<p>Be careful out there!<\/p>\n<p><strong>(This is an excerpt from an article I originally published on Seeking Alpha on May 6, 2014. <a href=\"http:\/\/seekingalpha.com\/article\/2192793-monetary-policy-on-cruise-control-in-australia\" target=\"_blank\">Click here to read the entire piece<\/a>.)<\/strong><\/p>\n<p>Full disclosure: net short Australian dollar<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(This is an excerpt from an article I originally published on Seeking Alpha on May 6, 2014. Click here to read the entire piece.) The Reserve Bank of Australia seems to have abandoned efforts to push the Australian dollar (FXA) around. The latest monetary decision contained no surprises and looked like a near carbon copy &#8230; <a title=\"Monetary Policy On Cruise Control in Australia\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2014\/05\/06\/monetary-policy-cruise-control-in-australia\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[386,20],"tags":[308,310,309,115,306,203],"class_list":["post-22394","post","type-post","status-publish","format-standard","hentry","category-australia","category-forex","tag-audusd","tag-australian-dollar","tag-fxa","tag-monetary-policy","tag-rba","tag-reserve-bank-of-australia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Monetary Policy On Cruise Control in Australia - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2014\/05\/06\/monetary-policy-cruise-control-in-australia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monetary Policy On Cruise Control in Australia - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(This is an excerpt from an article I originally published on Seeking Alpha on May 6, 2014. 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