16.05.201808:45 Forex Analysis & Reviews: The new RLA ideology is to hope and believe

AUD / USD

Under the strong onslaught of allied markets, which occurred yesterday under the pressure of the US dollar, the Australian currency could only decline. The dollar index added 0.62%, gold fell by 1.7%, iron ore lost 2.4%, and copper declined by 0.82%.

Yesterday, the Reserve Bank of Australia published the minutes from the last meeting on monetary policy. An interesting phrase was inserted in the text of the document: "It would be expedient to maintain a stable money exchange and make the Reserve Bank a source of stability and trust." Apparently, the RBA management is either aware of the upcoming world economic cataclysms or intends to maintain the current rate unchanged for a long time for other reasons. However, the Australian Central Bank does not abandon an ambitious forecast for economic growth of 3% (the current 2.4%). For today, we see a growth in wages for the 1st quarter by 0.5% against the forecast of 0.6% and a revision of the growth of wages for the previous period from 0.6% to 0.5%.

We are waiting for the decline of the "Aussie" in the range of 0.7375 / 85 after the release of US data on construction and industrial production.