Australian Dollar Reversed Upwards. Overview for 05.05.2020
On Tuesday morning, the Australian dollar in the pair with the US dollar is getting stronger, the current AUDUSD quotation being 0.6440.
The May session of the Reserve bank of Australia was standard, with no surprises. The interest rate was left at 0.25% as expected – it is at its low, there is no reason to decrease it to zero.
For Australia, the moment when the Chinese economy gets more or less back to normal is very important. The trade and economic links have gone feeble, and Australia has many troubles functioning this way.
Simultaneously, a lot of questions emerge concerning the Australian employment market. If the economy does not restore soon, the labor market will get drowned in an avalanche of the unemployed.