The Reserve Bank of Australia made a monetary policy announcement today. While the Australian dollar rose a bit after the central bank announced its decision, the currency continued to move sideways below the opening level afterward. Yet later, the Aussie made a push to the upside, which helped the Australian currency to climb above the opening level against all other most-traded currencies.
The Australian dollar started today’s trading weak against the US dollar and other most-traded currencies, though not all of them. In particular, the Aussie managed to gain on the Swiss franc and to reverse yesterday’s losses versus the New Zealand dollar. But at the time of writing, the Aussie not just managed to rebound to the opening level, it has been trading as one of the strongest currencies on the Forex market.
The Australian dollar rose a bit at the start of Tuesday’s trading session but has retreated to trade near the opening level at the time of writing. The Aussie dropped versus the New Zealand dollar, which was the strongest currency on the Forex market today. The central bank’s minutes released on Tuesday did not provide any surprising new insights.
The Australian dollar started Friday’s trading with losses but has recovered by the time of writing. Analysts considered the market sentiment to be positive for riskier currencies, especially after some major US stock indices reached new record highs on Thursday. Australian macroeconomic data released during Friday’s trading session was mixed but no report was outright disastrous.
The Australian dollar rose against all other most-traded currencies today with the exception of the very strong New Zealand dollar. Australian macroeconomic data released on Wednesday was supportive of the Aussie but the speech of the central bank’s head was dovish, limiting the upside momentum for the currency. As of the time of writing, the Aussie has lost its gains versus the US dollar but rebounded against the New Zealand dollar.
The Australian dollar started Tuesday with gains but reversed its movement after the monetary policy announcement from the Reserve Bank of Australia. While the central bank kept interest rates unchanged, markets still considered the policy decision to be surprisingly dovish.
The Australian dollar opened sharply lower on Monday but has recovered afterward. The currency got a downward pressure from disappointing macroeconomic data in Australia’s biggest trading partner — China. As for macro indicators in Australia itself, they were mostly positive.
The Australian dollar traded mostly higher against its most-traded rivals on the back of the positive market sentiment. Traders looked into the future with optimism thanks to expectations of coronavirus vaccine rollouts and the subsequent recovery of the global economy. A manufacturing report for China, Australia’s biggest trading partner, missed expectations but it did not seem to have a material impact on markets, perhaps because the data was not outright bad.
The Australian dollar was weak today, falling against all other most-traded currencies. That is despite domestic macroeconomic data that beat expectations.
The Australian dollar did not show a clear trend today. The Reserve Bank of Australia left its monetary policy unchanged at its last policy meeting this year, as was widely expected. China’s macroeconomic data was helpful to the Australian currency.
