AUDUSD is trading downwards despite neutral comments from the Reserve Bank of Australia.
On Tuesday morning, the Australian Dollar is falling against the USD. The current quote for the instrument is 0.7627.
The key rate of the Australian regulator remained unchanged in June at 1.50%. However, this time the rate wasn’t expected to be revised: earlier, the RBA confirmed that the rate value was okay for the current economic conditions.
According to the Reserve Bank of Australia, the two major problems for the country’s economy are the inflation, which is very unlikely to become more active until the end of the year, and the labor market, where salaries are growing very slowly. When it comes to external risks, the regulator is worried about the political turmoil in Italy, but not too much, and doesn’t consider it to be a very serious threat.
The statistics published by Australia in the morning were rather neutral. The Current Account was -10.5B against the expected reading of -9.9B. The Aussie doesn’t usually pay much attention to such reports: investors prefer to use separate components of these reports as catalysts, such as the Import and the Export.
Meanwhile, the USD is expected to make another attempt to strengthen, thus forcing the Aussie to retreat while the overall situation is quite calm.