The AUD/USD pair is trading to the upside after the June meeting of the Reserve Bank of Australia.
On Tuesday morning, the Australian Dollar continues growing against the USD. The current quote for the instrument is 0.7485.
The June meeting of the RBA was over just the way it was expected. The key interest rate remained unchanged as predicted, at 1.5%. In the comments, the regulator specified that the current rate completely matched economic factors and targets relating to the GDP and the inflation. However, the economy itself still has several essential problems.
One of them is the decrease of the household debt, which is still going before expenses. In addition to that, there are signals that indicate the slackening of the housing prices growth. When it comes to the inflation, the RBA thinks that it will increase slowly following the improvement of the GDP. And when it comes to the GDP, the regulator expects it to expand the next couple of years. By the end of this period, the indicator is predicted to expand by approximately 3%.
This time, the RBA noticed that the labor market “revived”: according to several leading indicators, the employment was increasing and that’s a good sign. Moreover, the business climate was also estimated as positive. Of course, there are mid-term risks from China.
There was nothing aggressive said in relation to the Aussie, except for “the national currency is too expensive”, but it’s not a surprise for anybody.
RoboForex Analytical Department