Article By RoboForex.com
AUDUSD is trading upwards and getting closer to its two-week highs.
The Australian Dollar continues growing against the USD on Tuesday. The current quote for the instrument is 0,7358.
The reason of this is that the Aussie is supported by the weakness of the American currency, which got under pressure after the US President Donald Trump criticized the Federal Reserve.
Another thing that helps the Australian Dollar to recover is the RBA Meeting Minutes. The document, which was published earlier in the morning, said that there were no reason for revising the benchmark rate in the short-term, but doing this in the future would directly depend on the labor market and the inflation in the country. Overall, the Reserve Bank of Australia is going to follow its current monetary policy.
According to the regulator, right now the Aussie is cheaper against the USD (if taking about long-term charts) than earlier, but still not cheap enough and continues trading inside the two-year trading rage. On several occasions in the past, the RBA criticized that the Aussie rate was too high and prevented the country’s GDP from growing faster.
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When it came to the inflation, the RBA said the core indicator was expected to grow from the current value of 1.75% to 2.25% in 2020. It’s a good signal for the Australian currency – it means that the regulator sees improvements in the domestic demand.
Article By RoboForex.com
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