The Aussie is looking down. Overview for 21.04.2020

On Tuesday afternoon, AUDUSD remains under pressure and continues to retreat. 

The Australian Dollar continues falling against the USD on Tuesday. The current quote for the instrument is 0.6303.

Earlier today, the Reserve Bank of Australia published the Monetary Policy Meeting Minutes dated April 7th. According to the document, the regulator believes that the country’s financial system is stable and coordinated efforts of the central bank and financial authorities will surely help to reduce the economic slump. The RBA still finds it necessary to support both employees and employers. 

Those emergency measures that were taken by the RBA at the very beginning allowed the country’s enterprises and households to keep stability, while a package of fiscal measures helped to cut financing costs and stabilize the liquidity. 

In addition to that, the RBA will continue working on helping 3-year bonds reach their profitability targets. 

The regulator believes that negative consequences for the country’s GDP will be somewhat eliminated as soon as the government increases support and the demand recovers. 

In general, market players already knew everything that was said in the report. The RBA’s monetary policy is quite logical and it prevents the Aussie from plunging.