18.06.2024 10:15

AUD/USD: Reserve Bank of Australia keeps interest rates at 4.35%

Current dynamic

The AUD/USD pair shows moderate growth, retreating from local lows on June 10, which were updated the previous day: the instrument is testing the 0.6620 mark on an upward breakout, while trading participants evaluate the results of the Reserve Bank of Australia ( RBA ) interest rate meeting.

As expected, the central bank kept its key interest rate at 4.35%, noting in the accompanying statement that inflation remains above target levels and is also showing signs of stabilization. The rate at which price pressures are abating is lower than expected, so it is now wise to take a wait-and-see approach and assess risks. Now investors doubt whether borrowing costs will adjust before the end of 2024, but much will depend on macroeconomic statistics coming out of Australia. The most likely scenario currently includes a decline in value only in the first quarter of 2025.

Today at 14:30 (GMT+2) in the United States, retail sales data will be presented: expectations are for the indicator to accelerate on a monthly basis by 0.2% after zero dynamics in April, while sales excluding cars may also add 0.2%. . Throughout the day, representatives of the US Federal Reserve