# Second RBA rate cut fails to knock $A off its perch

> The Reserve Bank of Australia cut its cash rate by 25bp to a record low of 1% on July 2, but the Australian dollar barely moved and traded near US69.94 cents. Strong commodity prices, market positioning and dovish moves by other central banks offset the cut.

- Date: 2019-07-03 · published 2019-07-03T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/58383-second-rba-rate-cut-fails-to-knock-a-off-its-perch
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A resilient Aussie despite RBA easing keeps Australian export prices firm for commodity buyers, and limits any currency-driven boost to Australian grain and meat competitiveness.

## Read by commodity

- AUDUSD: neutral

## Sources

- afr.com: https://www.afr.com/markets/currencies/second-rba-rate-cut-fails-to-knock-a-off-its-perch-20190703-p523l5

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.