Australian Dollar Climbs As RBA Minutes Signal Further Monetary Tightening In Months Ahead
18 Julio 2022 - 11:13PM
RTTF2
The Australian dollar firmed against its major counterparts in
the Asian session on Tuesday, after the minutes from the Reserve
Bank of Australia's recent meeting showed that members agreed that
the current level of the cash rate is "well below" the neutral rate
and further rate hikes would be needed in the months ahead.
Members agreed that further steps would need to be taken to
normalize monetary conditions in Australia over the months ahead,
minutes from the bank's July 5 meeting revealed.
The level of interest rates was still very low for an economy
with a tight labour market and facing a period of higher inflation,
the minutes showed.
"Members viewed it as important that inflation expectations
remained well anchored and that the period of higher inflation be
temporary."
Members further noted that although short-term inflation
expectations had risen with actual inflation, longer-term measures
of inflation expectations were well anchored.
The aussie climbed to near 2-week highs of 0.6862 against the
greenback and 0.8889 against the loonie, after falling to 0.6803
and 0.8833, respectively in early deals. The aussie is seen finding
resistance around 0.72 against the greenback and 0.90 against the
loonie.
The aussie edged up to 94.63 against the yen, from a low of
94.00 seen at 9:05 pm ET. On the upside, 97.00 is possibly seen as
its next resistance level.
The aussie spiked up to a 5-day high of 1.4803 against the euro
and near a 5-week high of 1.1099 against the kiwi, off its early
lows of 1.4904 and 1.1062, respectively. The aussie is likely to
challenge resistance around 1.45 against the euro and 1.12 against
the kiwi.
Looking ahead, Eurozone final inflation data for June is due in
the European session.
U.S. building permits and housing starts for June are set for
release in the New York session.
AUD vs Yen (FX:AUDJPY)
Gráfica de Divisa
De Mar 2024 a Abr 2024
AUD vs Yen (FX:AUDJPY)
Gráfica de Divisa
De Abr 2023 a Abr 2024