26.03.2014 - Australian dollar continues to grow
The price of the Australian dollar continued to rise and reached the upper limit of the local rising channel. Among the reasons for the increase in demand for the national currency of Australia we should note speculations on possible measures to stimulate the economy of China, which is the main trading partner of Australia, as well as statement by the head of the Reserve Bank of Australia Glenn Stevens. In his speech, Mr. Stevens noted the growth of investments and credits in the mining sector, the stability of the inflation rate and the fact that the reduction of the Australian dollar contributes to the growth of the economy. Despite this, the RBA policy remains quite soft and is aimed at reducing of price of the Australian dollar. We maintain a long-term negative outlook for the Australian dollar due to the risks of slowing down industry of China and the RBA monetary policy. In the medium term, the growth of price of the pair can continue.