Is Australia Ready for More Hikes?
The Reserve Bank of Australia (RBA) will release its interest rates and make a statement on August 2, 7:30 GMT+3.
Aussie edges up on current account
On Tuesday, the Australian dollar rallied in Asia because current account as well as China services ensured a jump ahead of the latest key bank review of interest rates with market participants watching closely further political risk events on the Korean peninsula.
The currency pair AUD/USD soared 0.15% being worth 0.7957. At the same time USD/JPY hit 109.22, decreasing 0.46%.
Australia’s current account demonstrated a surplus of A$9.6 billion, which is wider than the A$8.1 billion surplus observed during the second quarter.
The RBA interest rate verdict is supposed to see Australia’s major financial institution hold steady at a record minimum 1.50%.
The previous week, the greenback was broadly lower versus the other major currencies because Friday's dismal American employment data kept weighing and as renewed threats from North Korea dominated traders’ attention.
Trading volumes were believed to stay light with American markets unavailable due to the Labor Day Holiday.
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