AUD June

AUD 24th-28th June Fundamental Report

News and economic event analysis disclaimer: This fundamental report is not advice or a recommendation to trade or invest, it is educational and general information only. Don’t blindly buy and sell the markets/products discussed in this article, do your own research and be aware of the risks and rewards.

AUD Main Focus This Week: 

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Quick View: Dovish

  • Reserve Bank of Australia (RBA) lowered its interest rate by 25 basis points to 1.25% as market expectations.
  • The next RBA meeting is July 2, 2019.
  • RBA’s central economic data focuses on GDP, Unemployment and CPI.
  • This is the first interest rate cut in nearly three years due to slower inflation and slowdown in domestic and global economic growth.

Main Economics Data of RBA

  • Australia’s GDP grew by 1.80 in the first quarter of 2019 compared to the corresponding quarter of the previous year, down from 2.3% in the previous quarter.
    Australia’s consumer price inflation slowed to 1.3% in the first quarter of 2019 from 1.8% in the previous quarter and below the 1.5% target.
    The adjusted unemployment rate in Australia rose to 5.2% in April 2019 from a 5.1% increase in the previous month and slightly above the market expectation of 5.1%.

Expected Bias: AUD Bullish

  • The positive statement from RBA governor, Philip Lowe on the Australian economy and combined with positive sentiment ahead of the US-China trade talks has prompted the AUD to rise.

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