AUD continues to rise. Overview for 29.04.2024

The Australian dollar appears strong against the US dollar. The current AUDUSD exchange rate stands at 0.6567.

The Aussie surpassed a three-week high against its American counterpart as the USD slightly corrected its position ahead of this week's meeting. It is worth noting that the Aussie has surged to its 11-year high against the JPY. The anticipated currency interventions from the Bank of Japan still do not deter anyone.

Previous inflation statistics in Australia reinforced expectations that the Reserve Bank of Australia will not embark on monetary policy easing anytime soon. The consumer price index in Q1 declined to 3.6% from the previous 4.1%. However, it remained above the forecasted 3.4%, marking the fifth consecutive quarter of easing inflationary pressure.

Meanwhile, the monthly index accelerated in March, reaching 3.5% from 3.4% in February.

This week, Australia will publish retail sales and trade statistics, providing further insights into the state of the economy.