The new RLA ideology is to hope and believe


Under the strong onslaught of allied markets, which occurred yesterday under the pressure of the US dollar, the Australian currency could only decline. The dollar index added 0.62%, gold fell by 1.7%, iron ore lost 2.4%, and copper declined by 0.82%.

Yesterday, the Reserve Bank of Australia published the minutes from the last meeting on monetary policy. An interesting phrase was inserted in the text of the document: "It would be expedient to maintain a stable money exchange and make the Reserve Bank a source of stability and trust." Apparently, the RBA management is either aware of the upcoming world economic cataclysms or intends to maintain the current rate unchanged for a long time for other reasons. However, the Australian Central Bank does not abandon an ambitious forecast for economic growth of 3% (the current 2.4%). For today, we see a growth in wages for the 1st quarter by 0.5% against the forecast of 0.6% and a revision of the growth of wages for the previous period from 0.6% to 0.5%.

We are waiting for the decline of the "Aussie" in the range of 0.7375 / 85 after the release of US data on construction and industrial production.


The material has been provided by InstaForex Company -