The Australian Dollar appreciated against the US Dollar, following the Australian Cash Rate release on Tuesday at 04:30 GMT. The AUD/USD exchange currency rate gained 12 pips or 0.17% during a minute, right after the release. The Australian Dollar kept going upwards after the data release to continue trading at the 0.7215 area.
The Reserve Bank of Australia released Cash Rate data in line with expectation of 1.50%. The rate still unchanged for the 11 months, which shows Australian currency stability.
Philip Lowe, Governor at the Reserve Bank says: " Wage growth remains low, although it has picked up a little recently. The improvement in the economy should see some further lift in wages growth over time, although this is likely to be a gradual process .Business conditions are positive and non-mining business investment is expected to increase ."
| Historical Data Table: Cash Rate | Economic Calendar for 05.09.2018 | ||||||||
| Date | 03.10.2017 | 07.11.2017 | 05.12.2017 | 06.02.2018 | 04.09.2018 | 08:30AM | UK Services PMI | ||
| Actual | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 12:30 PM | CAD Trade Balance | ||
| Forecast | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 14:00 PM | CAD BOC Rate Statement | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/JPY | 142.887 | 142.904 | 0.01% | AUD/JPY | 65.90% | 34.10% | |||
| AUD/USD | 0.71923 | 0.71981 | 0.08% | AUD/USD | 55.67% | 44.33% | |||
| EUR/AUD | 1.61262 | 1.61181 | -0.05% | EUR/AUD | 27.24% | 72.76% | |||
| GBP/AUD | 1.78766 | 1.78681 | -0.05% | GBP/AUD | 52.33% | 47.67% | |||