AUDUSD: How the Australian Dollar is Impacted by RBA Decisions and Global Sentiment
Tuesday, 24 September 2024, 14:28
The AUDUSD pair has witnessed an impressive rise, with the Australian Dollar achieving a three-month peak of 0.6852 against the US Dollar.
This surge is predominantly driven by China’s newfound stimulus measures, which have instilled confidence in the markets, alongside a comparatively weaker USD.
Factors Driving AUDUSD
- RBA Decision: The Reserve Bank of Australia (RBA) held its key cash rate, impacting market perceptions.
- Chinese Stimulus: The recent measures initiated by China bolster economic prospects, influencing AUD fluctuations.
- Market Sentiment: A positive outlook in global markets contributes to the sustaining strength of the AUD.
Outlook for AUDUSD
Considering these influential factors, traders might anticipate continued volatility in the majors currency pairs. Keeping an eye on economic indicators and RBA policies will be key for future AUDUSD movements.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.