The AUD/USD pair is growing; the informational background is stable and investors are calm.
On Tuesday afternoon, the Australian Dollar is moving quietly against the American one. The current quote for the pair is 0.7495; the instrument has been moving upwards for the last five trading sessions.
According to the minutes of the RBA meeting published today, most of committee members are sure that the low inflation in the country will continue for a long time. The CPI is slowly returning to the target value. In the first quarter, Australia’s economy expanded by 0.5% more than the regulator expected, and this is a good sign. The number of workplaces on the employment market is decreasing a little bit, but it was expected. At the same time, the pressure on companies relating to salary payments looks rather reasonable and not critical.
In other words, the minutes contain the information, which is already known to the market, nothing new. However, investors were inspired by the RBA’s comment that the Australian Dollar exchange rate had been falling steadily over the last several months. In the response to this comment, the Aussie has strengthened significantly.
In late May 2016, the national currency really hit the local bottom as the US Dollar cost 0.7144. The current price is higher for certain, but right now the cost of the Aussie doesn’t put a lot of pressure on Australian exporters.
RoboForex Analytical Department
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