State of the market: RBA cut the rates
Earlier in the day, the Reserve Bank of Australia cut key interest rates from 1.50% to 1.25%, arguing that labor market and core inflation measures. In fact, the decline in interest rates in Australia was perceived by the market as an optimistic statement, despite the multidirectional movement of the Australian dollar. The main driver for the growth of the Australian dollar has become more hawkish tone of the RBA protocol. Comments on the labor market and positive expectations for inflation in Australia have returned optimism for the Australian dollar. It should be noted that the tone of the Central Bank of Australia has become more confident, despite the trade risks.
The US dollar index has remained under pressure since the start of the day. American dollar’s weakness is more associated with the preservation of the aggressive US trade policy and D. Trump’s comments. From the start of the day, the US dollar index has been trading at the opening of the day, limited to the support of 97.10-00. The American dollar continues to be limited to general oversold, but remains under the pressure from risks. Resistance Levels: 97.30-40.
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Hanzenko Anton
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