The AUD/USD is holding exactly in the middle of the medium-term trading range in anticipation of the Fed's decision.
The Australian dollar moved quite well in the morning, but in the middle of the session activity in the pair dropped to lows. This is understandable: not many want to take risks until the key player - the Fed - does not reveal its cards. The current quote in the AUD/USD pair is 0.7197.
Today, in an interview with the Australian edition of the Australian Financial Review the head of RBA Mr. Stevens said that the regulator is seeing all the more visible signs of stabilization in the economy of the Green Continent. This just is not news: Just yesterday, the monetary politician referred to this. Stevens believes that there is no reason to wait for any deterioration in the Australian economic system, even with its systematic refusal to support the mining sector. This process has been going on for at least four years and runs as neutral as possible in the current fiscal environment.
The interest rate of the Reserve Bank of Australia is now at 2% per annum, this is a record low figure. The cycle of decline has lasted for four years and the RBA does not rule out that it would return to the weakening fiscal conditions, if required by the reality.
Expectations for GDP in the fourth quarter in Australia are rather neutral - a little better than it was in July-September. China adds a share of the risk to these forecasts, but so far the Bank of Australia was not mistaken much.
RoboForex Analytical Department
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