RBA causes AUD volatility

Note: This section contains information in English only.
Source: Dukascopy Bank SA
On July 6, at 04:30 GMT, the Reserve Bank of Australia published its cash rate and rate statement. In general, the bank left its cash rate unchanged. However, the AUD declined, as the bank revealed that it does not expect to change its interest rate until 2024.

Quoting the statement: "The Board remains committed to maintaining highly supportive monetary conditions to support a return to full employment in Australia and inflation consistent with the target. It will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range. The Bank's central scenario for the economy is that this condition will not be met before 2024. Meeting it will require the labour market to be tight enough to generate wages growth that is materially higher than it is currently."

Monetary Policy Summary

Statement by Philip Lowe, Governor: Monetary Policy Decision

In the immediate five minutes after the announcement, the AUD/USD currency exchange rate dropped by 21 base points. However, it was followed by a recovery and a surge to the 0.7600 mark. On the larger scale the AUD/USD is still surging due to the weakness of the USD that was caused by the US monthly employment data release on Friday, July 2.

Initial Reaction

Larger scale situation

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Actual Topics

Mon, 12 Jul 2021 10:52:16 GMT

12.07.-16.07. Event Historical Reactions

The week is bound to be busy for macroeconomic data releases and central bank announcements. On Tuesday, the US Consumer Price Index at 12:30 GMT is expected to impact all USD traded assets and currency pairs. On Wednesday, at 02:00 GMT the Reserve Bank of New Zealand is set to publish it Official Cash Rate and release a Rate Statement. At 06:00

Fri, 02 Jul 2021 12:52:37 GMT

US Dollar drops on employment data

On Friday, at 12:30 GMT, the US Dollar declined in value due to the publication of US employment data. The EUR/USD surged by 27 base points in the five minutes following the release. The data release consisted of three data sets. The Average Hourly Earnings change, the Non-Farm Employment Change and the Unemployment Rate were released. The Average Hourly Earnings changed

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