The Australian Dollar is falling again. Overview for 04.09.2018
AUDUSD is moving downwards after the RBA’s decisions and comments while the USD is getting stronger.
On Tuesday, the Australian Dollar is being sold again after bouncing back yesterday. The current quote for the instrument is 0.7202.
During its September meeting, the Reserve Bank of Australia decided to keep the key rate intact at 1.50%. Such decision was no surprise for investors, however, some comments that followed sounded rather alarming.
The regulator said that the household consumption continued being uncertain for the future outlook. In addition to this, it was said that housing crediting was slowing down due to the investment demand decrease. External risk factors, according to the RBA, are global financial outlook and the USA’s trade policies. These factors concern China, which is Australia’s key trade and economic partner.
Everything else remained unchanged. The labor market is estimated as positive; wages are expected to grow slowly; the inflation expectations in 2019 and 2020 are also the same – the indicator is expected to improve slowly.
Apart from the RBA’s questionable sentiment, today the Aussie is influenced by the USD behavior – the American currency is recovering and getting ready to attack.
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