The Australian Dollar Faces Renewed Pressure: Summary for September 27, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSD_8-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="AUD/USD analysis today" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p><a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD/USD</a> is once again on a decline as investors steer clear of high-risk assets.</p>

<p>The Australian dollar, in tandem with the US dollar, is experiencing a weakening <a title="&lt;div class=&quot;wpg-tooltip-content&quot;&gt;&lt;p&gt;A trend is a direction in which the market or the price of an instrument is moving. Trends can be upward, downward or sideways and are common to all types of markets.&lt;/p&gt;&lt;/div&gt;" href="https://blog.roboforex.com/glossary-terms/trend/">trend</a>. The present exchange rate for AUD/USD is recorded at 0.6379.</p>

<p>The primary influencing factor on the Australian exchange rate is the behavior of the US Dollar.</p>

<p>Interestingly, there is a potential stabilizing factor for the AUD: <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> data. The consumer price index in Australia is on the rise, hinting at possible future <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> hikes.</p>

<p>As of the end of August, the country's inflation surged by 5.2% year on year, completely countering the gradual decline in price pressures noted over the past three months.</p>

<p>With inflation resurging, the Reserve Bank of Australia (RBA) has a strong rationale to contemplate another rate hike before the year's end. The current rate stands at 4.1% per annum, unchanged during the past three meetings.</p>

<p>The Reserve Bank of Australia is scheduled to convene next week, marking the first meeting under the leadership of the new RBA head, Michele Bullock.</p>

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