The Australian Dollar is getting weaker. Overview for 02.10.2018
The Australian Dollar is getting “lighter” against the USD on Tuesday. The current quote for the instrument is 0.7186, which is the lowest over the last couple of weeks.
During its latest meeting, the Reserve Bank of Australia decided to keep the key rate intact at 1.5%. No one expected the rate to be revised, that’s why this news was no surprise for anybody.
In the comments, the RBA said that the current rate value was fine with the outlook for the inflation and economic growth, but at the same time, the regulator was expecting the employment and CPI readings to improve. The inflation is expected to grow rather slowly, the outlook for 2019 and 2020 are quite promising.
As for the Aussie, the RBA believes that the national currency is trading inside the range, which was formed over the last couple of years. There were no other comments and it was rather strange: earlier, the Australian regulator never missed an opportunity to say that the Australian Dollar was too expensive, thus being pretty risky to the entire economic system. Among external risks, the RBA mentioned the US trade policy, which is now providing a lot of uncertainty.
The Aussie would have probably “survived” this meeting of the regulator, if it hadn’t been for the USD, which has been “attacking on all fronts” for several consecutive trading sessions. In this light, the Australian currency is forced to retreat.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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