The Australian Dollar appreciated against the US Dollar, following the RBA Rate Statement data release on Tuesday at 04:30 GMT. The AUD/USD exchange currency rate gained 15 pips or 0.22% right after the release. The Aussie continued trading at the 0.6710 level against the Greenback.
Reserve Bank of Australia released the Australian Cash Rate data, which came out in line with the expectations of 1.00%.
According to the official release: “The outlook for the global economy remains reasonable, although the risks are tilted to the downside. The trade and technology disputes are affecting international trade flows and investment as businesses scale back spending plans due to the increased uncertainty. At the same time, in most advanced economies, unemployment rates are low and wages growth has picked up, although inflation remains low. It is reasonable to expect that an extended period of low interest rates will be required in Australia to make progress in reducing unemployment and achieve more assured progress towards the inflation target.”
