The AUD/USD pair is standing still: it is neither growing, nor falling – investors are waiting for news from the USA.
On Tuesday, the Australian Dollar is barely moving against the USD. The current quote for the instrument is 0.7666.
At the beginning of today’s trading session. The Reserve Bank of Australia published its December meeting minutes. The main conclusion that may be drawn from the document is the Aussie strengthening threat, which may force the country’s economy and the CPI to slow down.
The employment market raises no concerns: the latest statistics showed that the long-term trend in the sector is getting stronger; the unemployment rate is expected to decrease, while the average salaries are expected to increase slowly. Here, expectations aren’t too positive, but they aren’t very negative as well. Of course, there are some risks relating to the household spending and the consumption rate. The risk of decline has been decreased over the last 6 months, but the situation may yet get worse in the short-term.
One comment from the RBA seemed rather interesting. The regulator thinks that not all participants of the country’s economic system are getting equal advantages from the strong labor market. Most likely, these words are about small enterprises, which can’t pay more money until they start earning more as well. Still. The RBA has never mentioned this before.
Today’s inactivity in the AUD/USD pair may be connected to the fact that investors are waiting for news from the USA: on Tuesday evening or Wednesday morning, the USA are going to publish the taxation system reform project. Right now, this is the major driver for the USD and investors aren’t in a hurry to act until they know all facts.
RoboForex Analytical Department