The AUD/USD pair finds temporary support and advances to near 0.6420 in Monday’s European session after posting a fresh four-month low near 0.6370 on Friday.
AUD/USD jumps to near 0.6420 with investors focusing on the RBA monetary policy announcement on Tuesday. The RBA is expected to leave interest rates steady at 4.35%. Investors expect the Fed to cut its key borrowing rates next week by 25 bps to 4.25%-4.50%. The Aussie pair rebounds slightly with investors focusing on the Reserve Bank of Australia’s monetary policy decision, which will be announced on Tuesday. Market experts expect the RBA to leave interest rates unchanged at 4.
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.
RBA Fed Dollarindex Supportresistance
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