The Australian Dollar went up. Overview for 19.09.2017

The AUD/USD pair was supported by the Minutes of the RBA’s latest meeting.

The Australian Dollar rose against the USD on Tuesday. The current quote for the instrument is 0.8000.

The Minutes of the latest meeting of the Reserve Bank of Australia that were published today say that the labor market continues to improve significantly. According to the forward-looking indicators, one may assume that the number of jobs in the Australian economy will continue increasing. This, in its turn, will have a positive impact on household spending and provide support to the country’s economy in general.

This time, the RBA was pretty tough when it came to the Aussie behavior. In the comment, the regulator said that national currency appreciation would slow down the growth of the country’s economy and increase pressure on the inflation.

The RBA was positive about the Chinese economy growth rate and iron ore prices. The prices went down in anticipation of new market offers, but the regulator considered the situation as normal.

However, the Australian Dollar remains insensitive to such verbal interventions. The current behavior of the Aussie is mostly based on the market reactions to the USD fluctuations. No matter how much the RBA wants it, the national currency is very unlikely to fall as long as investors’ attitude to the USD is negative.,

RoboForex Analytical Department