The Australian Dollar is consolidating after a quick growth. Overview for 12.10.2018
AUDUSD is slowing down its growth on Friday and looking for a consolidation.
Last evening, the Australian Dollar was quickly growing against the USD, but slowed down a bit in the morning. The current quote for the instrument is 0.7119.
The Aussie’s growth that took place yesterday was probably caused by the slowdown of the American currency. As soon as the USD gets weaker, other traded currencies take advantage of the situation immediately.
In the morning, the Reserve Bank of Australia published the Financial Stability Review, which says that global “trade wars” escalation may have a serious impact on the national economy and result in the economy contraction. In addition, it was said that Australia was very sensitive to the slowdown in global economic growth and any outside fluctuation would influence the Australian economy as well.
As for domestic situation, the regulator said that factors of bank’s reserve efficiency deteriorated in the first half of 2018. At the same time, sufficient capital ratios, an objective indicator monitored by the RBA, was considered as “surely strong”.
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