The price of the Australian dollar increases slightly on the background of statements by the Reserve Bank of Australia that has left interest rates unchanged. We recall that after the decrease of consumer price index in Australia in the first quarter to 0.6% traders were expecting the RBA to ease its monetary policy.
Among the negative factors that affect the Australian currency is the slowdown in the industry in China - the country's main trading partner and the data on reduction of the trade surplus to 0.73 billion against the forecasts of analysts at 1.10 billion.
We maintain a medium-term negative outlook for the Australian dollar with the target at 0.9200.
Wish you the profits!
FXFINPRO Capital Analytical department.