The AUD / USD pair continues to move up, playing on statistics and a calm news background while China's market is closed.
The Australian dollar continues to climb up. On Tuesday afternoon the AUD/USD pair is trading near the mark of 0.7108, and this is the seventh consecutive session of growth in the AUD. Clearly, this upward movement in the instrument completely fits into the concept of a technical rebound. But, nevertheless, this strengthening was necessary for the market.
This morning it was announced that the Reserve Bank of Australia kept interest rates unchanged at 2.0% per annum. Such a decision was expected by the capital markets. In the comments the regulator said that it sees moderate growth of the local economic system. According to Mr. Stevens, the head of the RBA, the economy has backup strength that is not yet in demand due to low external demand. The RBA continues to monitor the economic outlook, and analyzes external data while keeping domestic fiscal conditions quite soft.
In general, little has changed in the tone of the Australian regulator last month. The ultra-monetary policy is fully justified, given a deceleration of the Chinese economy - the Celestial Empire was and remains the most important economic partner for Australia.
Today data on the trade balance of Australia was published. In August, the foreign trade deficit was at the level -A $ 3.1 billion, and the data was worse than expected. It turns out that an imbalance between export and import parameters is aggravated, and that is not a good signal.
It seems that the Australian dollar will stay in a state of equilibrium until Thursday morning when Chinese investors will return to trading.
RoboForex Analytical Department
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