On Tuesday afternoon, the AUD / USD pair is being trading in positive with the normal background.
The Australian dollar strengthened slightly against US dollar in the first trading day of spring. The current quote in the pair AUD / USD is 0.7148. The tool is now among the medium-term trading congestion.
This morning, the meeting of the Reserve Bank of Australia has been passed. Usually, the Central Bank of Australia begins a series of meetings of regulators, but the strategy of RBA remains fairly balanced and cautious. The refinancing rate is unchanged - 2% per annum, it is kept unchanged the ninth time in a row.
RBA policy is also remained unchanged and known to the market. The interest rate is left unchanged, but the regulator is ready to respond if the external background will worsen and create conditions for the revision of the indicator of the slide. Usually, regarding that issue the Australian Central Bank is working proactively, but now, speedwork is not required.
However, it is not only in the external background. A row of macroeconomic indicators shows the probability of a slowdown in economic growth in Australia in the coming quarter. If so, that forced braking will force the RBA to lower the rate sooner or later.
Reducing the refinancing rate would facilitate the reduce of the Australian dollar rate, which now looks good in comparison with other currencies, but in their own context could be less expensive. For Australian exporters would be more comfortable to work with. RBA have repeatedly pointed out that the Aussie is too overbought and should be lower.
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