The Reserve Bank of Australia left rates unchanged at 4.35% and will not meet again until late September, leaving the AUD to trade on USD data.
AUD/USD traded marginally higher at 0.7050 on Tuesday after the Reserve Bank of Australia (RBA) held its cash rate at 4.35% in a unanimous decision. The central bank also released updated quarterly forecasts, but the currency showed little reaction to the announcement.
The RBA’s next meeting is not until September 29, seven weeks away, while the Federal Reserve will decide on rates on September 16. The gap leaves the AUD exposed to USD-driven volatility, with key U.S. data releases including CPI, PPI, retail sales, and the Jackson Hole symposium scheduled before then.
Australia’s economic calendar is sparse, featuring only consumer inflation expectations, a speech by the RBA Governor, and monthly CPI data. None of these events carry policy implications, leaving the AUD to track USD movements until late September.