Yesterday’s high: AU$1.7147
Yesterday’s low: AU$1.7069
Australian Dollar Dips as RBA Signals Rates to Remain on Hold for Foreseeable Future
The Australian Dollar drifted lower on Tuesday following the Reserve Bank of Australia’s (RBA) decision to leave interest rates on hold.
While the move had been expected ahead of time, markets were still dismayed by the Bank’s neutral outlook for future hikes, with analysts suggesting that the bank is unlikely to tighten monetary policy until at least later 2018.
However, the Pound’s gains were tempered on Tuesday with the release of the British Retail Consortium latest retail sales report, in which it suggested that year-on-year sales significantly cooled in October.
AUD Outlook: Aussie to be lifted by Mortgage Figures?
Looking ahead, the Australia Dollar may recoup some of its losses later tonight as economists forecast that Australia’s latest mortgage figures will show a sharp uptick in the value of home loans in September.
Meanwhile, the focus for GBP investors is likely to turn to the UK’s latest trade figures in the second half of the week, with an expected narrowing in Britain’s trade deficit likely to strengthen Sterling.
01:30 AU Home Loans Sep
09:30 UK Trade Balance Sep
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