The Aussie is rising after the RBA meeting. Overview for 07.05.2019
On Tuesday morning, AUDUSD is trading upwards; signals from the Australian regulator turned out to be positive.
The Australian Dollar intends to continue its rise as it is getting more expensive against the US. The current quote for the instrument is 0.7032.
This morning, the Reserve Bank of Australia had another meeting. The key rate remained unchanged at 1.5%, although earlier the regulator hinted at possible decrease down to 1.25%. In the comments, the RBA said that the quarterly inflation in March was significantly worse than expected (it’s a risk), but the strength of the country’s economy allows to avoid any hasty decisions so far.
All other comments were quite positive and made the Aussie rise after the event was over.
The Retail Sales in Australia added 0.3% m/m in March, which is a bit better than market expectations (+0.2% m/m), but three times worse than the February reading. As a rule, the indicator shows consumer demand and spending, that’s why the stronger the reading, the better for the Aussie and the country’s economy.
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