The Australian Dollar (AUD) experienced additional losses against the US Dollar (USD) despite strong labor market data from Australia reported earlier in the week, which prompted for a more hawkish Reserve Bank of Australia (RBA).
AUD/USD continues its decline as markets gear up for RBA’s decision next week. Federal Reserve's projection of higher interest rates continues to bolster USD. Australia n calendar was empty on Friday, and USD suffers minimal intraday losses on soft UoM figures. The Australia n Dollar experienced additional losses against the US Dollar despite strong labor market data from Australia reported earlier in the week, which prompted for a more hawkish Reserve Bank of Australia .
Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar is the level of interest rates set by the Reserve Bank of Australia . Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance.
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