The Australian Dollar appreciated against the US Dollar, following the RBA Rate Statement release on Tuesday at 03:30 GMT. The AUD/USD exchange currency rate gained 16 pips or 0.22% after the release. The Aussie continued trading at the 0.7190 level against the Greenback after the release.
The Reserve Bank of Australia released the Australian Cash Rate data, which came out in line with the expectations of 0.25%.
According to the official release: "The Bank's policy package is working as expected and is underpinning very low borrowing costs and the supply of credit to households and businesses. There is a very high level of liquidity in the Australian financial system and borrowing costs are at record lows. $81 billion of low-cost funding for authorised deposit-taking institutions (ADIs) has been advanced under the initial allowance of the Term Funding Facility. ADIs currently have access to a further $120 billion under this facility. As this is drawn down, there will be a further very significant expansion of the Reserve Bank's balance sheet."
| Date | 02.06.20 | 07.07.20 | 04.08.20 | 01.09.20 | 06.10.20 |
|---|---|---|---|---|---|
| Actual | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Forecast | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/JPY | 75.962 | 76.125 | 0.21% |
| AUD/USD | 0.719 | 0.72051 | 0.21% |
| EUR/AUD | 1.64034 | 1.63736 | -0.18% |
| GBP/AUD | 1.80702 | 1.80417 | -0.16% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/JPY | 27.5% | 72.5% |
| AUD/USD | 51.5% | 48.5% |
| EUR/AUD | 49.3% | 50.8% |
| GBP/AUD | 57.6% | 42.4% |
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