The Aussie is retreating. Overview for 22.03.2022
They continue selling AUDUSD – the asset is slowly retreating.
The Australian Dollar continues falling against the USD. The current quote for the instrument is 0.7409.
Australia isn’t publishing any important data these days. In the meantime, market players are focusing on two aspects – the “greenback” strengthening as a “safe haven” asset and the comments of Australian authorities relating to the country’s economic state.
According to The Reserve Bank of Australia Governor Philip Lowe, the regulator won’t take any active measures until there is no clear evidence that the CPI finally reaches stability. The regulator is closely watching the labour market situation to track labour costs and understand how stable inflation is.
At the same time, Lowe mentioned the psychological influence of inflation boost.
Another aspect the RBA is watching is the balance between supply and demand, which may say a lot about economic resilience.
Such comments from the RBA are considered quite “soft”. There is a clear divergence between the monetary policies of the US Fed and the RBA, and one shouldn’t expect any changes here any time soon.
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