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Aug 04 - 02:55 AM

AUD/USD - Drifts Higher After RBA Remains On Hold

By John Noonan  —  Aug 04 - 12:35 AM
  • AUD/USD moving higher after RBA left the cash rate at 0.25%

  • It was 0.7120 before the decision and moved to around 0.7135

  • Statement not as dour as some expected - given spike in COVID-19 in Victoria nAZN00MGPF

  • RBA economic outlook on economy uncertain, but within expectations

  • AUD/USD resistance at 10-day MA at 0.7144 and break eases downward pressure

  • RBA SOMP on Friday will contain more detail on RBA outlook

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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