The AUD/USD pair softens around 0.6720 during the early Asian session on Thursday.
AUD/USD trades on a weaker note near 0.6720 in Thursday’s early Asian session. The weakerUS Job Openings data suggestedcontinued cooling in the US job market, undermining the USD. Traders will monitor the RBA ’s Bullock speech ahead of US ISM Services PMI on Thursday. The pair trades in a volatile session amid Chinese economic concern and the weaker US Dollar .
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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