AUD/USD: RBA Rate Statement and Cash Rate

The Australian Dollar depreciated against the US Dollar, following the Australian Cash Rate data release on Tuesday at 4:30 GMT. The AUD/USD exchange currency rate lost 18 pips or 0.25% right after the release. The Aussie continued trading at the 0.6985 level against the Greenback.

Reserve Bank of Australia released the Australian cash Rate data , which came out in line with the expectations of 1.00%. Noe, that the RBA Rate Statement was released at the same time.

According to the official release: "The outlook for the global economy remains reasonable. However, the uncertainty generated by the trade and technology disputes is affecting investment and means that the risks to the global economy are tilted to the downside. Inflation pressures remain subdued across much of the economy. Inflation is still, however, anticipated to pick up, and will be boosted in the June quarter by increases in petrol prices. The central scenario remains for underlying inflation to be around 2 per cent in 2020 and a little higher after that."