The Aussie intends to rise. Overview for 10.03.2022

AUDUSD has been “in the black” for the second week in a row despite natural disasters.

The Australian Dollar is actively strengthening against the USD. The current quote for the instrument is 0.7336.

One reason is that the improvement in global geopolitics has a positive influence on traded currencies. Another supporting factor comes from a well-diversified Australian economy and solid trade and economic relations with China. 

However, the AUD rate barely responded to a national emergency over flooding in two states, New South Wales and Queensland. Federal and state governments have already faced anger from the population for not acting faster to help residents.

The national emergency will allow the federal government to intervene more directly. 

The Aussie is now more focused on high oil and gold prices, as well as increasing inflation in China.