The AUD/USD pair remains under selling pressure around 0.6580 during the early Asian session on Monday.
AUD/USD edges lower to near 0.6580 in Monday’s early Asian session. The weaker Chinese economic data and Trump’s proposals to raise tariffs drag the China-proxy Aussie lower. The preliminary University of Michigan's Consumer Sentiment Index came in better than expected in November. The weaker-than-expected Chinese economic data and Trump tariff weigh on the China-proxy Australian Dollar against the Greenback.
How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia influences the Australian Dollar by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down.
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