[B]Intra-Day Market Moving News and Views
22 Jul 2014[/B] [I]05:00GMT[/I]
[B]NZD/USD[/B] - 0.8678... RBNZ Deputy Governor Spencer said, quote:
‘Reserve Bank of New Zealand to review prudential rules for banks, non-bank lenders;
review to “thin stock” of current regulation, won’t be ‘a severe pruning’; banking review to take 12 months, may remove redundant rules, simplify framework;
review will not include rules covering insurance sector; key planks such as capital adequacy, liquidity, risk management, governance not in review.’
[B]AUD/USD[/B] - Earlier Statements from RBA Governor Glenn Stevens continues to speak and said "markets remarkably sanguine on geopolitics up to now.
'low rates are doing the things they usually do; doing all that could reasonably be expected at moment, content for now; if policy could reasonably do more, would consider it.'
He began his statement, quote:
“hard to say how successful qe has been globally”;
“subdued ‘animal spirits’ likely one reason for slow economic recoveries”;
" is sure spirits will improve at some point, G20 growth agenda could help".
Stevens makes no comments on domestic monetary policy & A$ in his speech. Aud briefly bounced to intra-day high of 0.9395 as st specs sold aussie ahead of Stevens’ speech n quickly covered their shorts after his speech did not mention the A$.