The AUD/USD pair continues to trade sideways around 0.6550 in Tuesday’s European session.
AUD/USD trades back and forth around 0.6550 amid a focus on multiple Australian/US macroeconomic events. Inflation in Australia is expected to have risen steadily by 1%. The Fed is seen leaving interest rates unchanged, with a dovish guidance. The Aussie asset consolidates as investors have sidelined ahead of the Aussie Q2, the monthly Consumer Price Index for June, and the interest rate decision by the Fed eral Reserve , which are scheduled for Wednesday.
Market sentiment – whether investors are taking on more risky assets or seeking safe-havens – is also a factor, with risk-on positive for AUD. 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.
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