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- The Australian Dollar gains ground as the RBA and Fed adopt different policy outlooks.
- The RBA’s Financial Stability Review suggests that the Australian financial system remains resilient, with risks largely contained.
- China plans to inject more USD 142 billion of capital into top banks.
The Australian Dollar (AUD) retraces its recent losses against the US Dollar (USD) on Thursday. The AUD/USD pair receives support from the divergent monetary policy outlooks between the two central banks. Additionally, the commodity-linked Aussie Dollar found support as China, its largest trading partner, announced a new round of stimulus measures to boost its economy.
The Reserve Bank of Australia (RBA) held the Official Cash Rate (OCR) steady at 4.35% on Tuesday, offering support to the Australian Dollar and bolstering the AUD/USD pair. Additionally, RBA Governor Michele Bullock confirmed that rates will remain on hold for now.
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