AUD Sustains Momentum: Overview for December 08, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSD_9-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="AUD/USD analysis today" style="margin-bottom: 15px;" decoding="async" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD/USD</a> pair is reclaiming lost ground.</p>

<p>The Australian dollar, in tandem with the US dollar, experienced an upswing by Friday. The current AUD/USD exchange rate stands at 0.6618.</p>

<p>Earlier, the Aussie had encountered pressure when the Reserve Bank of Australia maintained the <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> at 4.35% per annum. During that period, the central bank stated that keeping the parameter unchanged would allow for an assessment of the impact of interest rate hikes on demand, <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a>, and the employment sector.</p>

<p>The RBA also underscored uncertainty surrounding household consumption prospects. Nevertheless, it generally acknowledged that inflation is on the decline, and conditions in the labor market are easing.</p>

<p>The Australian economy witnessed a 0.2% q/q increase in Q3, falling short of the 0.4% growth forecast and marking the slowest growth rate this year.</p>

<p>In summary, the outlook for AUD remains positive, provided there are no drastic changes in the RBA&rsquo;s monetary policy.</p>

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