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Australian dollar flies on non-virus wings
See the latest Australian dollar analysis here:
The Australian dollar is still flying free:
Gold and oil eased:
Europe announced further
Covid-related restrictions. Following record daily cases and deaths on Friday, Germany is urging, but not requiring, employers to close workplaces as it starts a hard lockdown on Wednesday. Italy and the Netherlands are among the countries expected to tighten restrictions as well. The UK announced London and SE England will start Tier 3 restrictions on Wednesday.
Dec 15, 2020 01:37 GMTFXStreet News
The Reserve Bank of Australia has published the minutes of the December policy meeting.
Minutes showed that its Board feared a protracted period of unemployment lay ahead and rectifying that would be a “national priority.”
Key notes
Australia’s labour market is recovering faster than expected thanks to an easing in coronavirus restrictions and a rebound in consumer spending, but it will still take years for unemployment to fall to desired levels, says the country’s central bank.
The Board agreed “substantial” monetary and fiscal support would be needed for a considerable period and remained ready to add more stimulus if needed.
Australia: Mid-Year Review, jobs, population and wealth are the highlights
On Monday
The week may kick off on Monday with the Mid-Year budget
update (it is expected some time over the week). In the full twelve months to
October the underlying cash balance was $174.6 billion (8.8 per cent of GDP).
The budget deficit for the four months to October was $3.6 billion lower than
the ‘profile’ deficit.
Also, on Monday the Bureau of Statistics (ABS) issues
overseas arrivals data for October and the “Household Impacts of COVID19 Survey”
for November.
On Tuesday
On Tuesday, weekly indicators are issued, including
Commonwealth Bank (CBA) data on card spending, the ANZ-Roy Morgan consumer