On Friday, AUDUSD is trading upwards; investors were positive in their response to the RBA Financial Stability Review.
The Australian Dollar is growing against the USD on Friday afternoon. The current quote for the instrument is 0.7797.
In the morning, the Reserve Bank of Australia published its Financial Stability Review, which was taken by investors very positively. The report said that the country’s economy was stable and the banking industry was well-balanced. Risks for Australian banks were considered as limited and the regulator’s total expenditure on banks over the year had decreased.
Household spending are still believed to be the major risk. Also, the RBA mentioned that in case of negative economic factors from the outside, the country’s economy wouldn’t be influenced by them too much. However, due to very close trade and economic relations with China, Australia remains very sensitive to any stresses in the Chinese economy and changes in Chinese statistics.
In general, the report delivered nothing new, but once against stated that the Australian economy was stable and had enough reserves. For the Aussie, it’s very positive.