AUD/USD is pressured by strong U.S. economic data.

Create at 1 month ago (Oct 08, 2024 19:57)

The Australian dollar remains under heavy pressure due to the stronger-than-expected U.S. non-farm payrolls report, which showed an increase of 254,000 jobs. At the same time, geopolitical tensions in the Middle East are further boosting demand for the U.S. dollar.

 

In terms of monetary policy, the Reserve Bank of Australia (RBA) kept interest rates steady at 4.10% during its September meeting. While the RBA acknowledged inflation risks, Governor Michele Bullock reaffirmed that there would be no rate hikes.

 

However, investors believe that an interest rate cut by the Reserve Bank of Australia (RBA) could occur if pressured by several factors, such as a domestic economic slowdown and a continued decline in inflation trends. This has led to predictions that the RBA will lower interest rates at least once within this year.

 

Source: Fxstreet

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