The Aussie rose. Overview for 01.02.2022

01.02.2022

AUDUSD is trying to keep its positive momentum. 

The Australian Dollar continues growing against the USD on Tuesday. The current quote for the instrument is 0.7080.

The Reserve Bank of Australia had another meeting today and decided to keep the benchmark interest rate intact at 0.1%, the same as expected. 

However, something did happen. The RBA said that the QE programme would be closed on 10 February. The programme volume was A$4 billion per week – that‘s the liquidity the market will surely miss. Still, the fact that the regulator is closing the programme doesn’t mean that it will revise the rate – it might not happen in the nearest future. Nevertheless, the programme termination is definitely a signal that the country’s economy is already quite stable. 

The RBA said once again that it wasn’t planning to raise the rate until inflation reached the target range of 2-3%. Right now, the CPI is rather unstable and its future is uncertain due to the delivery issues. The Australian regulator is ready to show patience and find out how some particular factors influence inflation in the country.

At first, it seemed that the RBA’s comments were too soft and that forced the Aussie to fall a little bit. However, later it became clear that the Australian regulator was just trying to buy some time and avoid hurrying into making monetary decisions. 

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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 bears no responsibility for trading results based on trading recommendations described in these analytical reviews.