The Aussie is “in the red”. Overview for 04.08.2020

04.08.2020

On Tuesday morning, AUDUSD is slowly rising amid a quite external background.

The Australian Dollar is slightly growing against the USD on Tuesday. The current quote for the instrument is 0.7133.

The Reserve Bank of Australia had another meeting this morning, where it kept its monetary policy and the interest rate intact. The rate remained at 0.25%, which is the lowest possible and seems to stay in line with the regulator’s objective perfectly. 

It is definite that the RBA’s rate is very likely to remain unchanged until the moment when the risks of the second wave of COVID-19 pandemic in the world go away. It means that no rate revisions should be expected at least in the nearest 6 months. 

The statistics published in the morning showed that the Retail Sales in Australia added 2.7% m/m against the expected reading of +2.4% m/m. it’s a good sign for the Aussie. 

AUD enthusiasts are still closely watching the economic situation in China and the coronavirus pandemic. China has always been Australia’s key trade and economic partner, that’s why all numbers from China have a significant influence on the Aussie. 

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.