The risk-sensitive Australian dollar is rising against the US dollar. It also strengthens the sensitivity in the markets. The AUD / USD will be the focus today after meeting the Australian Central Bank's (RBA) interest rate decision today. The Australian central bank is expected to keep the benchmark interest rate unchanged at 0.10%.
It seems unlikely that the RBA will change its message this year, which means keeping rates steady until permanent inflation is seen with a stronger labor market.
Apart from the RBA decision, high impact economic events of the markets will continue to be monitored.
The Australian Dollar is moving higher against the US Dollar, breaking back above a previous resistance area seen in mid-April. With a higher move, AUD / USD will aim to pull out the psychologically significant 0.78 handle. Alternatively, holding below 0.7750, the resistance level seen throughout April, could push the price back to any of the key moving averages!