After a short pause, AUDUSD resumed falling; the RBA Meeting Minutes encouraged “bears”.
On Tuesday afternoon, the Australian Dollar is falling against the USD. The current quote for the instrument is 0.7703. The price is trading close to March lows and may reach them in the nearest future.
There aren’t too many reports on the market, that’s why in the morning investors decided to focus on the latest RBA Meeting Minutes. The document says that the country’s economy is doing fine and the GDP may increase in 2018 more than expected. Expectations relating to the inflation rate are pretty the same: the regulator doesn’t exclude a possibility that by the end of the year the Consumer Price Index may expand up to 2% or even more.
Among possible risks are still low household spending, but there is little that can be done here: the population is very unlikely to spend a lot of money unless they are sure that the country’s economic system is stable. This issue is very complicated and may take many months to be solved.
In today’s report, the RBA once again said that the expensive national currency slowed down growth of the GDP and the inflation. In the situation when there was no other news, this information served as a negative driver for the Aussie.