AUD/USD Daily Forecast – 06 September

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Tuesday, Sep 05 2017

AUD/USD Daily Forecast – 06 September

Focus of the ysterday's session was on RBA interest rate decision and the foillowing statement. At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. The low level of interest rates is continuing to support the Australian economy. Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.

The Australian dollar has appreciated over recent months, partly reflecting a lower US dollar. The higher exchange rate is expected to contribute to the subdued price pressures in the economy. It is also weighing on the outlook for output and employment. An appreciating exchange rate would be expected to result in a slower pick-up in economic activity and inflation than currently forecast.

Tomorrow's session will bring Australian GDP figures. Analysts anticipate growth by 0.8%. There will be no major data releases in the US part of the session.

Figures to watch:

GDP (Wednesday 3:30)

More in this category: « EUR/USD Daily Forecast – 05 September GBP/USD Daily Forecast – 06 September »

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