The Australian Dollar continues falling. Overview for 01.10.2019
On Tuesday, AUDUSD is retreating; the RBA rate decision did match expectations.
The Australian Dollar remains week against the USD on Tuesday. The current quote for the instrument is 0.6734.
This morning, the October meeting of the Reserve Bank of Australia was over, where the regulator decided to cut the rate by 25 basis points, from 0.75% to 1.00%. However, this scenario was expected by investors, because earlier the regulator said that it would be necessary to boost the country’s economy.
Probably, now the RBA may take a pause and view the happenings, but if the global market conditions don’t change for the better, the regulator might as well cut the rate one more time until the end of the year.
The statistics published in the morning showed that the AIG Manufacturing Index went from 53.1 points in August to 54.7 points in September. The fact that the indicator is still above 50 points, which separates decline from growth, is surely positive.
At the moment, the thing the Aussie is mostly responding to is the USD strength, but not external news, that’s why it retreating.
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