empty
 
 

20.11.202502:31:04UTC+00Australian Dollar Hovers Six-Week Low

The Australian dollar maintained a position close to $0.647, marking its lowest point in six weeks, as market participants evaluated the Reserve Bank's ongoing deliberations regarding the restrictiveness of current monetary policy. Assistant Governor Sarah Hunter emphasized the bank's analysis of three pivotal economic shifts: changes in pricing strategies by businesses post-pandemic, the persistent tightness in the labor market, and the unexpected robustness in the housing sector's response to policy measures. Hunter also advised caution regarding monthly inflation data, which can fluctuate significantly, indicating that the Reserve Bank of Australia (RBA) is cautious about forming conclusions based on isolated data points. With uncertainty lingering over whether the 3.6% cash rate is sufficiently limiting inflation to meet targets, pressure persisted on the Australian dollar. Investors are now eyeing the upcoming PMI data release for more insight into the economic landscape. Additionally, the US dollar's strength contributed to the downward pressure, as minutes from the Federal Open Market Committee (FOMC) revealed that several members opposed additional rate cuts this year.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback