Tatsiana Ketrar
The official rate of inflation won’t prevent the RBA from interest rate cuts in order to support the national economy. The central bankers are aware of the risks coming from the global economic slowdown.
The Australian Dollar is too strong. It affects the national economy by making Australian export costlier for importers. However, the RBA is not determined to make any currency interventions in the near future.
The RBA has maintained the key interest rate at 3.5% for 3 months in a row. This is one of the highest rates among developed economies.
Forex.
According to , the Australian Dollar keeps strengthening against the US Dollar. The experts report that AUDUSD has finished forming an upswing represented by wave А(С)/С of level Daily.
A further rally (above 1.0623 ) will probably encounter resistance around 1.0705, 1.0731, 1.0791. The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 1.0166 (as shown below).
Tatsiana Ketrar
