The Australian Dollar is trading under pressure. Overview for 16.10.2018

On Tuesday, AUDUSD is moving downwards influenced by the active USD and the Monetary Policy Meeting Minutes published by the RBA.

The Australian Dollar started today’s trading session by falling against the USD. The current quote for the instrument is 0.7122.

The Monetary Policy Meeting Minutes published by the RBA today says that the AUD rate decline that started earlier is good for the country’s domestic economy. It is quite interesting, because the regulator doesn’t mention the importance of the Aussie rate at every meeting, unlike it did in the past.

According to the RBA, the next revision of the key rate is likely to be upwards, but surely not in the nearest future. At the same time, the regulator is still pretty sure (as it was in the past) that keeping the rate intact for long period of time provides additional stability and confidence to the country’s economy.

Another thing the RBA mentioned was low mortgage rates at the moment.

In addition to that, the RBA’s attention was focused on uncertainty with consumption, which is connected to slight reduction of wage growth and decline of housing prices. The employment is feeling good after the labor market skyrocketed in August. However, it was said that an average income amount was still not enough for the regulator to feel safe.