On Thursday afternoon, AUDUSD is still trading downwards; the USD is attacking.
The Australian Dollar remains under pressure against the USD on Thursday. The current quote for the instrument is 0.7356.
The problem for the Aussie is that the USD started another attack. After the profitability of the US bonds started increasing, the American currency followed due to lower risks. Trade wars between China and the United States died down a bit, but obviously not for long. Nevertheless, the USD is attacking.
Both the Australian government and the RBA will profit from the decline of the Aussie rate. In the comment to its previous meeting, the regulator said that the expensive national currency prevented the GDP the inflation trend from increasing. Now, when the Aussie is retreating, risks for the country’s economy are decreasing a little bit.
There wont’ be any significant statistics for the Aussie from Australia until the end of this trading week, which means that the AUDUSD will mostly depend on the USD behavior. So far, the fundamental background is quite neutral, that’s why current tendencies in many currency pairs, including AUDUSD, may continue.
