Australian Dollar Weakens Ahead of Released RBA Policy, Almost Parity Against Kiwi

Trends in Australian dollar on Tuesday (31/03) today tends to weaken AUD / USD was trading at 0.7649 or decreased 0:07 percent. Australian Dollar weakened to face the almost parity with currency of New Zealand in a big speculation that says if the Reserve Bank of Australia (RBA) will be re-cut interest rates next week given the low commodity prices and the slow pace of the Chinese economy.

RBA Will Cut Interest Rate (Again)

Reported from Australian, private sector credit for February rose to 0.5 percent, according to the RBA notes. Home loans (housing loans) rose 0.5 percent month-on-month. Private sector credit data shows the current low interest rates, and give an interesting effect on the business and housing loans, but the effect on personal loans are still silent.

"Outlook which considers that Australian economy would be weakened, opening possibility of interest rate cuts back anytime soon and risk of falling commodity prices also led to weakening of Australian dollar profile," said Janu Chan, senior economist of St. Geroge Bank, a subsidiary of Westpac Banking Corp. told Bloomberg today.

At 12:35 pm Tokyo time, Australian dollar fell 0.3 percent to 0.7633 US Dollars and traded at 1.0190 against the New Zealand dollar from 1.0202, after falling to 1.0157 on Monday, the lowest level since the two currencies are allowed to freely floating on 1980s.

Source : tradingviews

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