Australian fx news

Here are some recent Australian FX news and updates:

Reserve Bank of Australia (RBA) Interest Rate Decision

• The RBA kept the official cash rate unchanged at 0.1% at its February 2023 meeting, as expected.
• The RBA also maintained its forward guidance, indicating that it will keep rates low for an extended period to support the economy.

Australian Dollar (AUD) Performance

• The AUD has been trading relatively stable against major currencies, with a slight appreciation against the US dollar (USD) in recent weeks.
• The AUD/USD pair is currently trading around 0.72, with some analysts expecting it to break above 0.75 in the coming months.

Economic Data

• Australia's GDP growth rate slowed to 2.4% in the December quarter, down from 3.1% in the September quarter.
• The country's unemployment rate remained steady at 5.2% in January, with a slight increase in employment numbers.
• Australian retail sales rose 0.4% in December, beating expectations and indicating a slight pickup in consumer spending.

Market Sentiment

• Market sentiment remains cautious, with investors monitoring global economic developments and the impact of the COVID-19 pandemic on the Australian economy.
• The Australian dollar is sensitive to changes in global risk appetite, with a strong US dollar and rising bond yields potentially weighing on the currency.

Key Events and Announcements

• The RBA will release its quarterly Statement on Monetary Policy on February 28, which may provide further insights into the central bank's inflation and growth outlook.
• The Australian government will release its Mid-Year Economic and Fiscal Outlook (MYEFO) on March 2, which may contain updates on the country's fiscal position and economic growth prospects.

Technical Analysis

• The AUD/USD pair is trading within a narrow range, with resistance around 0.7250 and support around 0.7150.
• A break above 0.7250 could signal a potential uptrend, while a break below 0.7150 could lead to further declines.

Please note that this is not a comprehensive list of all Australian FX news and updates, but rather a selection of recent and relevant information.