AUD/USD: Australian Cash Rate

The Australian Dollar appreciated against the US Dollar, following the Australian Cash Rate data release on Tuesday at 04:30 GMT. The AUD/USD exchange currency rate gained 64 pips or 0.91% right after the release. The Aussie continued trading at the 0.7040 level against the US Dollar.

The Reserve Bank of Australia released the Australian Cash Rate data, which came out better-than-expected of 1.50% compared with forecast 1.25%.

According to the statement by Philip Lowe, the Governor of RBA: "The outlook for the global economy remains reasonable, although the risks are tilted to the downside. Growth in international trade has declined and investment intentions have softened in a number of countries. In China, the authorities have taken steps to support the economy, while addressing risks in the financial system. In most advanced economies, inflation remains subdued, unemployment rates are low and wages growth has picked up."