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The Australian currency is dominated by conflicting factors. On the one hand, it is under pressure from the uncertainty in the trade dispute between the US and China, and on the other hand, the decline in demand for the US currency supports the aussie.
On the morning of Tuesday, November 19, many analysts expected the Australian dollar to weaken. The aussie reacted negatively to the publication of the minutes of the meeting of the Reserve Bank of Australia (RBA), but ignored the impressive price growth of local producers. According to the report of the Australian regulator, at the last meeting, the bank was considering the possibility of reducing the rate, but refused this step. The RBA believes that maintaining the key rate at the same level will positively affect consumer demand.
The Australian regulator continued the dovish policy, declaring its readiness to further reduce rates. The bank does not plan to reduce the rate in December this year, but allows a decrease in February 2020. Such sentiments were facilitated by the destruction of hopes for a preliminary trade deal between the United States and China, which had a somewhat negative impact on the Australian currency.
However, in general, despite a number of contradictions, the current situation positively influenced the dynamics of the aussie. This morning, the AUD/USD pair was trading at 0.6805, but in the future it was able to win back the lost positions. The Australian currency managed to reverse the downward trend, and the AUD/USD pair went up.
On Tuesday afternoon, the pair was trading in the range 0.6831–0.6832, slightly dropping from time to time. However, the general trend is aimed at the Australian currency's growth.
There were also negative aspects in the process of trading. For example, the AUD/USD pair has now dropped to 0.6825–0.6826, but is trying to gain height.
One of the catalysts for the aussie's growth was a decrease in demand for the US dollar. According to analysts, it was moderate demand for the greenback that helped the Australian currency avoid serious losses. However, in case of demand for the US dollar and its strengthening, the aussie is expected to decline, experts said. At the moment, the attempt to raise the Australian currency is counted, but the market will not be as supportive in the future, analysts said
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