2 Feb 2015
AUD/USD regains 0.7800, all eyes on RBA
FXStreet (Córdoba) - AUD/USD managed to inch higher and regained the 0.7800 level during the American session as investors square positions ahead of the RBA decision.
The Aussie hit a low of 0.7748 on the back of soft Chinese data, but managed to erase losses and climbed to a daily high of 0.7829 in recent dealings. At time of writing, the pair is trading at 0.7820, recording a 0.8% gain on the day.
AUD/USD has been under pressure amid speculations the Reserve Bank of Australia would cut rates to ease pressures on the economy against a backdrop of low commodity prices. A dovish statement is widely expected, although the AUD could stage a knee-jerk rally if the RBA doesn’t cut.
The Aussie hit a low of 0.7748 on the back of soft Chinese data, but managed to erase losses and climbed to a daily high of 0.7829 in recent dealings. At time of writing, the pair is trading at 0.7820, recording a 0.8% gain on the day.
AUD/USD has been under pressure amid speculations the Reserve Bank of Australia would cut rates to ease pressures on the economy against a backdrop of low commodity prices. A dovish statement is widely expected, although the AUD could stage a knee-jerk rally if the RBA doesn’t cut.