The Australian Dollar is waiting for signals. Overview for 01.05.2018
At the beginning of May, AUDUSD is trading close to its four months lows; the Reserve Bank of Australia is expected to react.
The Australian Dollar is rather weak against the USD in early May. The instrument has lost 1.55 over the previous month.
The Reserve Bank of Australia is scheduled to have another meeting on the first trading day of May. Expectations imply that the key rate will remain the same, at 1.5%. The regulator itself told the world on several occasions that it was going to revise the rate not earlier than at the end of the year, and it was possible that this approximate period might be even postponed.
Risk factors are still the inflation, the labor market, and the household spending. And if the CPI is okay, more or less (it will grow steadily sooner or later), then the labor market is not. Transition from the mining industry model is still in progress, but not as quickly as wished it to be.
The Aussie remains fundamentally weak due to some domestic nuances and the USD strengthening.
RoboMarkets Analytical Department
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