The AUD/USD pair is actively moving up on Tuesday afternoon after the meeting of the Reserve Bank of Australia.
On Tuesday afternoon, the Australian dollar was trading with a noticeable increase in tandem with its US counterpart. The current quote in the pair is 0.7202. This is the maximum of seven trading days.
Today ended another meeting of the Reserve Bank of Australia, where the interest rate has remained unchanged at 2.0% per annum. Market economists expected such a decision.
In a subsequent statement, the RBA said that the current interest rate level still provides support to the Australian economy. Deterioration of economic conditions in general, in Asia is still very possibly – this is a risk factor, and it is very noticeable. In light of this, monetary policy should remain soft for the RBA to retain the ability to adapt to changing external conditions. With regard to the internal state of the economy, the attention is drawn to spare capacity in the manufacturing and economic system. The Australian dollar quickly adapted to the market conditions and the environmental cost of raw materials.
Interestingly, the RBA pointed to the decline in the level of volatility in global financial markets. Does this mean that this fact can be regarded as a signal of stability? It is not clear, but, in any case, we should follow the change of this commentary in future announcements of the Australian regulator. Economic growth in the country is present, among internal risks - low inflation.
In general, the whole structure of the reporting is rather smooth and predictable. Australia usually takes a soft stance in the formation of monetary policy and often acts proactively in the question of rates. If at the moment the rate was kept unchanged, the risks that were sounded hold a familiar character.
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.