Aussie seems to pick up bid after the RBA interest rate decision and enjoying its bullish moment. Australia’s cash rate has been left on hold at the record low level of 0.10 per cent. The Reserve Bank of Australia met on Tuesday and decided to suspend official interest rates for eight consecutive months. The central [...]
Aussie is not effected by the downbeat Aussie data. In doing so, the Aussie pair keeps the early Asian recovery moves, amid the broad US dollar pullback. Australia’s reading of May’s Retail Sales has came below 0.7% forecast and 1.1% MoM prior to 0.1%, making the market fear of the negative economic impact of Victoria’s [...]
The Aussie potrayed substantial negative pressure because of the RBA Governor Lowe’s comments. The RBA Governor Phil Lowe warned of the upward wage pressure if the border remained closed for another one year. Elsewhere the policymakers further said it would be premature to consider the end of the bond buying program. Which in turn soured [...]
As per the Australian National report, Gross Domestic Product (GDP) of Australia has rose 1.8% this quarter which reflected the continued easing of COVID-19 restrictions and the recovery in the labor market. The level of economic activity is 0.8% above December quarter 2019 pre-pandemic levels and has grown 1.1% in through the year terms. Also [...]
