The Australian dollar, paired with the US dollar, is once again facing pressure. The current AUDUSD quote is 0.6759.
The Aussie’s volatility is drawing attention. On one hand, a strong US dollar exerts pressure on the AUD. On the other hand, China is sending quite positive signals.
Today’s statistics revealed that inflation in Australia for the second quarter declined to 5.4% year-over-year. On a quarterly basis, the indicator rose by 0.8% following a 1.4% increase from January to March this year. The easing of inflationary pressure is a positive signal. The Reserve Bank of Australia is likely to acknowledge this at its next meeting and keep the interest rate unchanged. The Australian dollar is reacting precisely to this development.
China’s readiness to stimulate its economy is favourable for Australia. As Australia’s primary trading and economic partner, all positive news coming from China is also encouraging for the AUD.
Article By RoboForex.com
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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