AUD/USD exchange rate impact on the Australian economy|Danesh Exchange in Melbourne

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December 12, 2017

AUD/USD exchange rate impact on the Australian economy|Danesh Exchange in Melbourne

The Australian economy expanded 0.3 percent in the March quarter of 2017, compared to a 1.1 percent growth in the December quarter 2016 while markets expected a 0.2 percent expansion. Positive contributions from final domestic demand and changes in inventories were unable to offset weak net trade and a drop in dwelling investment.The downside risk to the Australian economy remains the housing market, which according to many analysts can be on the verge of collapsing if the RBA hikes rates too soon and too fast. So far, the RBA has kept rates on hold and didn’t do much in comparison to their counterparts like New Zealand who have already raised interest rates.
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December 12, 2017