Aussie falls after RBA's statement

2019-02-08 20:17:19 GMT (Economies.com)
Aussie falls after RBA's statement

Australian dollar fell against its US counterpart today after the Reserve Bank of Australia revised its outlook for the economy. 

 

Concerns are growing as well over the global economic slowdown, with the US-China trade dispute still ongoing. 

 

Analysts also warn from stock corrections and lower consumer spending in Australia, in turn forcing the RBA to cut growth estimates. 

 

RBA governor not only voted to maintain rate steady at the last meeting but also hinted at a possible rate cut in 2019. 

 

The RBA expects a 2.5% growth rate in the 12 months ending June, down from 3.25% in previous forecasts. 

 

AUD/USD shed 0.1% to 0.7093, with a session-high at 0.7107, and a low at 0.706. 

 
 
  Symbol Last Change Chg.%
1.1336
0.0037
0.3283%
1.3032
0.0126
0.9723%
15.997
0.218
1.382%
57.090
1.317
2.360%
67.08
0.63
0.95%
1337.955
16.620
1.258%
 
 
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