Aussie Rising with RBA Support Market Review, 18.09.2018

The AUD/USD is rising on Tue, now trading at 0.7255. The RBA meeting minutes appeared to be very positive and confident, unlike the usual tone of the central bank, and this gave good support to the Aussie. Among other things, the minutes say that the RBA is ready for a rate hike as long as the economy is doing just as planned. The Council did not agree to raise the rate right away, though.

The RBA highly valued the current state of the Australian economy: the central bank highlighted positive trends in the job market, including lower unemployment among young people. The regulator admits the number of jobs will be growing in the future, too, pushing the unemployment to 5% or even lower.

The RBA also says the recent Aussie fall was good for the economy; previously, it also said the AUD price influenced the exporters and the economy, but then stopped talking about that.

Among the global risks for the Australian economy, there're tensions in trade relations, the RBA says. Still, the overall tone of the minutes was positive, which did support the Aussie.