Price bounced off some support from the 26 August low around 0.6690 to sit just above 0.6700 currently following the RBA decision moments ago.
The central bank left its cash rate unchanged as expected and also offered little new communication relative to its August meeting. That puts the decision more within the realms of a non-event if anything else.
Looking at any subtle changes to the statement, the only thing I can find is that the RBA omitted this part out of its labour market assessment:
“The unemployment rate is expected to decline over the next couple of years to around 5 per cent.”
Not exactly the biggest of issues but perhaps it points to a bit more doubt surrounding the labour market outlook moving forward.
Nonetheless, the key messaging remains unchanged and that means future rate cuts are still on the table with November being the next likely timeline for one to happen.