On the time of publication of this text, AUD/USD is buying and selling close to the 0.7405 mark, remaining within the bull market zone above the important thing assist ranges of 0.7295, 0.7315. Whereas commodity costs are rising (and Australia is the biggest provider to the world market of coal, iron ore, gold, liquefied gasoline, agricultural merchandise), the Australian greenback will preserve optimistic dynamics, regardless of the gentle rhetoric of the statements of the RBA management. Particularly, on Tuesday and Thursday (22:15 GMT), the speech of the pinnacle of the RBA, Philip Lowe, is scheduled. Throughout his speech, he’ll give an evaluation of the present state of affairs within the Australian financial system and, in all probability, point out additional plans for the financial coverage of the division entrusted to him. Any indicators from him relating to adjustments within the RBA’s financial coverage plans will trigger a pointy improve in volatility in AUD quotes. If he doesn’t contact on the subject of financial coverage, then the market response to his speech shall be weak.
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