The AUD/USD pair has been trading upwards since the beginning of the week; the minutes of the RBA’s meeting was quite neutral.
The Australian Dollar is still getting more expensive in the pair with the USD. The current quote for the instrument is 0.7549.
This morning, they published the minutes of the latest RBA’s meeting. In the regulator’s opinion, its current monetary policy is in compliance with the RBA’s targets relating to the CPI and the purchasing power stability. The Australian Central Bank estimates that the growth rate of the country’s GDP in the first half of the year was consistent with its expectations. Housing construction provides a significant support to the national economy, because the number of new builds delivered has increased since the beginning of the year. The employment market looks stable, the RBA doesn’t expect the unemployment rate to change until the end of the year.
Once again, the Central Bank notices that the low Australian Dollar provides support to the commerce sector and the export in general. As usual, the Aussie starts growing in response to such comments.
Everything seems rather neutral, all monetary actions that were required were put into play, and now all that is left to do is to watch and wait. In connection with this, it will be interesting to learn about the results of the USA Fed meeting, which will be over tomorrow evening. Any indication that the American regulator is ready to increase the interest rate in December will be in favor of the USD and weaken the Aussie.
RoboForex Analytical Department
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