FXStreet (Córdoba) – AUD/USD continued to rise during the American session and now is up more than 2%. The pair printed a fresh daily high at 0.7789, hitting the highest level in a week.
The pair moved all day with an upside bias, boosted initially by a stronger aussie and then by a decline of the US dollar across the board.
After RBA, GDP
Today, earlier, the Reserve Bank of Australia (RBA) left the interest rate unchanged at 2% as expected following a rate cut in the previous meeting. According to analysts from TD Securities the surprise this time was that the Board didn’t leave any explicit forward guidance on the table,”defying widespread expectations for a reintroduction of an easing bias after dropping it last month”.
Tomorrow GDP data from Australia will be release. “TD revises its forecast for Q1 GDP out tomorrow to +0.7%/qtr from +0.5%/qtr following today’s strong +0.5ppt contribution of net exports to GDP.”
(Market News Provided by FXstreet)