The AUD/USD pair is trading to the upside on Tuesday morning as investors are buying the Aussie because of a possible interest rate decrease.
On Tuesday, the Australian Dollar is growing quickly in the pair with the USD. The current quote for the instrument is 0.7683.
This morning, the Governor of the RBA, Phillip Lowe, said that technically the situation with the inflation in the country left open the possibility to decrease rates. He also said that the CPI data was very important for the country’s authorities and that the RBA was going to analyze its monetary policy in accordance with the updated statistics during the regulator’s next meeting in November.
The RBA’s assessments show that the latest published statistics meets expectations and predictions, but the labor and real estate markets are still rather complicated. The regulator is intended to monitor the movement of real estate prices in order to avoid either “housing bubble” or prices collapse.
The market was rather neutral in its reaction to the regulator’s comments relating to the AUD rate mobility and respective problems with the economy reorientation.
The Aussie’s current growth is unlikely to last long as it includes a technical rebound after sales that took place earlier and emotional response to possible future actions of the RBA. It’s doubtful that in November the regulator will change anything in its monetary policy: all major Central Banks prefer to listen to the Fed first and make important decision only after the American regulator announces its decision regarding to the rate.
RoboForex Analytical Department
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