AUD Positive factors for the 6th Consecutive Day: Evaluate for February 21, 2024 – R Weblog

The AUD/USD pair continues its upward trajectory, keeping up momentum.

The Australian greenback, in tandem with the United States greenback, has prolonged its upward push. The present AUD/USD trade fee is located at 0.6565.

The Aussie is progressively appreciating, often solidifying its place.

A vital contributing issue is the continued weak point of the United States greenback, because the marketplace anticipates the discharge of the Federal Reserve’s newest assembly mins later this night.

The mins from the Reserve Financial institution of Australia’s earlier assembly indicated that policymakers are nonetheless deliberating the opportunity of additional rate of interest hikes, very similar to the discussions within the February assembly. In the long run, the verdict used to be made to uphold the prevailing financial coverage parameters, taking into consideration the slowdown in inflation inside the nation.

Contemporary statistics disclose a 4.2% year-over-year building up in wages in Australia for This autumn 2023, marking the best studying since early 2009. The RBA would possibly interpret this information as having pro-inflationary implications.

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