AUD is looking for support. Overview for 18.07.2023
The Australian dollar stopped declining against the US dollar. The current AUDUSD quote is 0.6829.
The minutes of the last meeting of the Reserve Bank of Australia did not provide any clues. The monetary policy is currently restrictive, and the Central Bank is ready to continue it for as long as it takes. The Reserve Bank of Australia will decide whether to raise the interest rate further or not depending on the incoming data.
According to the CB forecasts, inflation will slow since the economic system has already slowed down its pace of growth.
The Aussie is reacting neutrally to such conclusions, as all this was known earlier. However, a local downside for the Australian dollar is signals coming from China. The controversial statistics released yesterday exerted pressure on AUD. Today investors are cautiously monitoring information from Evegrande, a giant in China’s real estate sector; the company reported poor quarterly results.
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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