The AUD/USD pair posts modest gains near 0.6705 during the early Asian session on Monday.
AUD/USD trades with mild gains around 0.6705 in Monday’s early Asian session. The two-day FOMC meeting ends Wednesday with an expected rate cut. The ChineseRetail Sales and Industrial Production came in worse than expected. The uptick of the pair is supported by the weakness of the US Dollar . However, the concerns about the economic slowdown in China might cap the upside for the China-proxy Australian dollar . All eyes will be on the US Federal Reserve interest rate decision on Wednesday.
Market sentiment – whether investors are taking on more risky assets or seeking safe-havens – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia influences the Australian Dollar by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole.
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