Forex Flash: RBA disappointment is AUD positive - NAB

FXstreet.com (San Francisco) - Today, AUD price action may well be directly driven by the minutes of the November RBA meeting. With little market moving data on offer this week, the release at 00:30 GMT is likely to be the highlighted risk event. "We go into this with the money market pricing about a 60% risk of a December rate cut, a probability we regard as too high," says NAB. "As such, should the minutes fail to offer succor to the December cut view, the AUD is prone to rally."

AUDUSD exchanges now at 1.0405.