Aussie settles higher against US dollar

Economies.com
2019-02-22 03:39AM UTC

Australian dollar tilted higher in Asian trade off February 12 lows, ahead of speeches by Federal Reserve governors later today. 

 

As of 02:58 GMT, AUD/USD rose 0.08% to 0.7098, with an intraday high at 0.7115, and a low at 0.7085. 

 

Reserve Bank of Australia governor Philip Lowe pointed to RBA's economic forecasts, with growth expected at 3% in 2019, before dipping to 2% in 2020. 

 

Lowe lauded the decrease in the unemployment rate to 5% last month, the lowest since 2011, as the labor sector continues to strengthen. 

 

The Reserve Bank of Australia released the minutes of its last meeting, at which rates were held steady at 1.5% as expected. 

 

The RBA believes rate expectations are mostly balanced, which was interpreted as caution and bearish by the market. 

 

Federal Reserve Governor Richard Clarida is due to deliver a speech titled "The Federal Reserve's Review of Monetary Policy Strategies, Tools, and Communications" at the US Monetary Policy Forum, in New York.

 

Federal Reserve Bank of St. Louis President James Bullard is also due to participate in a panel discussion titled "The Future of the Federal Reserve's Balance Sheet" at the US Monetary Policy Forum, in New York. 

 

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