After a turmoil at the beginning of the day, the AUD/USD is trading to the upside.
The Australian Dollar is growing against the USD on Tuesday. The current quote for the instrument is 0.7594.
Today, another meeting of the Reserve Bank of Australia was over. The results were rather predictable: the interest rate remained unchanged, at 1.5%, just as expected. In the comments, the regulator emphasized that the rate was corresponding to the DP growth rate and the inflation problems.
So, the RBA once again repeated its “mantra”, according to which the CPI in Australia in 2017 would reach 2% after all. At the same time, the growth of the core inflation is expected to be slow. Once again, the list of reasons, which prevent the Australian economy from operating well, includes too expensive AUD that may interfere with the transitional phase in the country’s economy.
Among other risks, the RBA considers external background and possible complications in China. At the same time, the Australian economy seems rather neutral: the consumption is stable, the household income is growing slowly, not a single word was said about household spending. Business confidence and consumer confidence slightly improved. The labor market is looking rather mixed despite the act that key indicators are moving to the upside.
In general, the RBA told investors the same thing as before. This is the reason the Aussie went up – no one is afraid of verbal interventions anymore.
RoboForex Analytical Department