The Australian dollar cheered up
02.06.2015
The AUD/USD pair is growing for the first time in seven trading days after the completion of the latest RBA meeting.
The Australian dollar paused in its noticeable drop. For seven trading sessions in a row the AUD/USD pair remained under the "bearish" pressure. Today, the instrument is growing. It is for a short time, but the respite was needed.
On Tuesday morning, a regular meeting of the Reserve Bank of Australia was completed. The interest rate was left unchanged at 2.0% per annum. The market generally expected such a development. The index was recently revised, and the RBA does not like to get ahead in such decisions.
In comments the Australian regulator stressed that the global economy continues to grow at a moderate pace, but commodity prices are still much lower than they were a year ago. The RBA emphasized that the problem may be hiding in the excess supply of raw materials, including from Australia.
Predictions about the future of the economy are quite slippery, and extremely discreet. The rate of growth of the Australian economy over the long term will remain below average.
And, once again, the RBA pointed to the Australian dollar, considering that it should be even lower. According to the views of the regulator, the AUD will soon be even weaker. But Australia requires this for an efficient restart of the economy.
The AUD/USD pair is having a standard respond to such statements about the rate from the RBA with rapid growth. There is no fundamental component in it, only emotions. Therefore, the strengthening of the position of the AUD is unlikely to be long-lasting.
RoboForex Analytical Department
The Australian dollar paused in its noticeable drop. For seven trading sessions in a row the AUD/USD pair remained under the "bearish" pressure. Today, the instrument is growing. It is for a short time, but the respite was needed.
On Tuesday morning, a regular meeting of the Reserve Bank of Australia was completed. The interest rate was left unchanged at 2.0% per annum. The market generally expected such a development. The index was recently revised, and the RBA does not like to get ahead in such decisions.
In comments the Australian regulator stressed that the global economy continues to grow at a moderate pace, but commodity prices are still much lower than they were a year ago. The RBA emphasized that the problem may be hiding in the excess supply of raw materials, including from Australia.
Predictions about the future of the economy are quite slippery, and extremely discreet. The rate of growth of the Australian economy over the long term will remain below average.
And, once again, the RBA pointed to the Australian dollar, considering that it should be even lower. According to the views of the regulator, the AUD will soon be even weaker. But Australia requires this for an efficient restart of the economy.
The AUD/USD pair is having a standard respond to such statements about the rate from the RBA with rapid growth. There is no fundamental component in it, only emotions. Therefore, the strengthening of the position of the AUD is unlikely to be long-lasting.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.