Australian Dollar is falling
01.09.2015
The AUD/USD pair is trading downwards after the RBA has made a neutral solution.
Australian dollar is sinking against its American colleague: it has no other options after the RBA meeting. On the first day of September, the Reserve Bank of Australia had another meeting, during which it was decided to leave everything where it had been before. The interest rate is the same, 2.0% per annum. This number remains intact for the fifth month in a row, although it was decreased twice prior to May.
In the words of Mr. Stevens, the Governor of the Reserve Bank of Australia, monetary policy must be “soft” in the current situation. Among the internal risks, the Australian regulator points out the excesses of residential property market. The fleet leader here is Sidney, where real estate increases in prices in progression. At the same time, construction sector looks fading and clearly needs to be inspired.
It’s interesting that the RBA hasn’t made a single comment on the latest Chinese attempts to “reboot” their economy. China is Australia’s biggest business partner, that’s why any tendencies in Chinese economy has a great influence on the Green continent.
July report about construction permits showed a rapid growth, Purchasing Managers' Index for producing sector in August has grown to 51.7 according to AiG. Aussie might have reacted to this package of morning statistics, but the RBA driver remains crucial so far.
RoboForex Analytical Department
Australian dollar is sinking against its American colleague: it has no other options after the RBA meeting. On the first day of September, the Reserve Bank of Australia had another meeting, during which it was decided to leave everything where it had been before. The interest rate is the same, 2.0% per annum. This number remains intact for the fifth month in a row, although it was decreased twice prior to May.
In the words of Mr. Stevens, the Governor of the Reserve Bank of Australia, monetary policy must be “soft” in the current situation. Among the internal risks, the Australian regulator points out the excesses of residential property market. The fleet leader here is Sidney, where real estate increases in prices in progression. At the same time, construction sector looks fading and clearly needs to be inspired.
It’s interesting that the RBA hasn’t made a single comment on the latest Chinese attempts to “reboot” their economy. China is Australia’s biggest business partner, that’s why any tendencies in Chinese economy has a great influence on the Green continent.
July report about construction permits showed a rapid growth, Purchasing Managers' Index for producing sector in August has grown to 51.7 according to AiG. Aussie might have reacted to this package of morning statistics, but the RBA driver remains crucial so far.
RoboForex Analytical Department
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