The Australian dollar rose against the US dollar on Thursday. The current AUDUSD quote stands at 0.6583.
Thus, the Aussie is back to a two-week high. This occurred as positions in the US dollar weakened significantly amid a decline in US Treasury bond yields. Capital markets anticipate the Federal Reserve easing monetary policy later this year, likely in June. Federal Reserve Chairman Jerome Powell confirmed these forecasts the day before. Speaking on Wednesday, the monetary policymaker noted that at some point this year, it would be appropriate to ease the restrictive monetary policy.
Among Australia's domestic statistics, attention was drawn to the report on the trade balance in January. The surplus of the indicator increased, although the figures themselves were weaker than expected.
Earlier this week, Australia released Q4 GDP data, revealing that the economy expanded less than expected. This only reinforces expectations of a further reduction in the RBA interest rate later this year, indicating that the economy is not performing well.