The AUD/USD gained 0.30% in Monday's session, advancing to 0.6790.
AUD/USD started the week on the right foot on a quiet Monday. Australia will release Q2 GDP data on Wednesday, which will be key. RBA Governor Bullock is expected to reiterate hawkish guidance on Thursday despite market expectations of a rate cut in December. The AUD/USD gained 0.30% in Monday's session, advancing to 0.6790. The pair is trading slightly higher on a quiet Monday as markets look ahead to key US labor market data this week, culminating in the Nonfarm Payrolls report on Friday.
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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