The AUD/USD is moving up rapidly after the outcome of the meeting of the Reserve Bank of Australia.
The Australian dollar meets the hot first day of December with rapid growth. In the Southern Hemisphere, summer has begun, and the AUD/USD pair is also heating up today. The current quote in the AUD/USD pair is 0.7296. The instrument is strengthening for the second day in a row.
Today a regular meeting of the Reserve Bank of Australia has ended, and it is the final one this year. The interest rate was unchanged, at 2.0% per annum, as expected.
The currency market reacted to the comments. The RBA said that the prospects for the Australian economy have improved in recent months, although commodity prices are lower than a year earlier. Inflation prospects are opening an opportunity to monetary easing, but it is a purely theoretical plane. Inside the Australian economy, a marked decline in investment in the mining sector is continuing, but, despite this, the gross domestic product is feeling well.
At the same time, the RBA sees moderate growth of the world economy. This time, nothing new was said about risks. The local GDP growth is holding below long-term average levels.
For now, the Aussie is enjoying the news background and the calm in the behavior of the US dollar. This situation may continue until tomorrow, but from Wednesday evening, the USD will behave aggressively.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.