The Reserve Bank of Australia is tipped to sit on the sidelines for longer and keep interest rates static at current levels say analysts at Australian lender Macquarie.
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The Australian Dollar has held its ground despite lower commodity prices after a rise in domestic data and turn in speculative markets.
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GBP/AUD continues to trade with a bullish bias despite the Aussie gaining from a positive global outlook and an upbeat central bank.
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“A tariff war may generate a few jobs in the US steel sector, but there will be more losers as the cost of manufacturing rises and trade frictions deepen...If the US strategy going forward is to en…
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The January 26 to March 01 sell off has pushed the AUD/USD rate some 5% below its 2018 peak and technical strategists are increasingly flagging the downtrend as running out of steam.
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Tuesday's current account augurs fears over Wednesday's GDP number while the RBA remained commited on the road to nowhere in March. Technical factors could push the Aussie higher yet.
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GBP/AUD has been trading sideways over the last week but there is a possibility it could go higher in the week ahead.
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