The AUD/USD rose by 0.35% to 0.6685 on Tuesday, recovering sharply from 0.6650 amid hawkish signals from the Reserve Bank of Australia (RBA) and hopes for economic stimulus.
AUD/USD attempts to recover the 100-day SMA at 0.6700. RBA’s reluctance to embrace cuts benefits the AUD. Copper and iron ore prices rebound, supporting Australian Dollar. The AUD/USD rose by 0.35% to 0.6685 on Tuesday, recovering sharply from 0.6650 amid hawkish signals from the Reserve Bank of Australia and hopes for economic stimulus. Markets seem to be considering the possibility of no cuts by the RBA this year.
” Its main tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will strengthen the Australian Dollar and vice versa. Other RBA tools include quantitative easing and tightening.
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