Aussie rebounds from a 4-month low against greenback

The Australian dollar rose during the Asian session, witnessing a rebound for its fourth session in five sessions from its lowest since January 3rd, heading for the first weekly gain in four weeks against the US dollar, after the Reserve Bank of Australia unveiled the monetary policy statement and on the threshold of economic developments and data expected on Friday by the US economy, the largest economy in the world, which includes the talk of members of the Federal Open Market Committee Lael Brainard, in Washington and John C. Williams in New York.

As of 02:34 GMT, AUD/USD rose 0.30% to $0.7010 compared with the opening at $0.6989, after reaching a high of $0.7019 and a low of $0.6979.

We have followed the Reserve Bank of Australia's release of the monetary policy statement just hours after the Governor of the Reserve Bank of Australia, Philip Lowe, and the central bank's monetary policy makers agreed to keep short-term benchmark interest rates at 1.50% for the 31st consecutive meeting earlier this week. Which came in contrast to analysts' expectations of a 25 basis point cut to 1.25%.

On the other hand, the markets are currently looking for the US economy to release the inflation data along with the release of the consumer price index, which may reflect a stabilized growth of 0.4%, unchanged from March, while the core reading of the same index may show an accelerated growth to 0.2% versus 0.1%. While the annual reading of the index and the core annual reading may also show an accelerated growth rate of 2.1% against 1.9% against 2.0%.

This coincided with the Federal Reserve Deputy Governor, Lael Brainard, giving the opening speech of the Fed's Community Development Research Conference, ahead of the speech of Federal Reserve Bank of New York Chairman, Williams, at the Bronx bankers breakfast. This comes hours after Federal Reserve Governor, Jerome Powell's speech in Washington, which did not address the Federal Reserve's monetary policy.