The AUD/USD pair is rather volatile on Tuesday: Australia-related report of the International Monetary Fund gave a lot of causes for reflection.
On Tuesday, the Australian Dollar is quite mobile against the USD. The current quote for the instrument is 0.7560.
Today, the International Monetary Fund published another report relating to Australia, which gave the market a lot to think about. One of the main points of the report is that the country is behind its budgetary targets while the debts are increasing. The Australia’s economy is expected to grow moderately in the next couple of years, because the strong momentum has already gone.
As far as the country’s monetary policy is concern, the report says that it should remain accommodative in order to reach inflation targets. As for the budget, one can see growth in after-tax earnings, but the consolidation speed should be gradual and reasonable in order to keep the existing balance.
To give the Australian economy a new momentum, one can try to expand expenses for infrastructure. However, it won’t happen right now due to difficulties coming from external background.
The statistics from ANZ published this morning showed that the Consumer Confidence in the country improved up to 118.2 points after being 117.8 the week before. In general, the number allows us to draw positive conclusions: the population is waiting for the economy to improve in the next five years; the economic situation for households is expected to get smoother in 12 months.
RoboForex Analytical Department
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