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The Australian Dollar has lacked interest rate support compared to its big US brother for all of 2018, and that trend looks set to continue judging by another docile inflation print on Monday.
The Melbourne Institute’s monthly gauge showed a 0.3% rise on the month in September, for a 2.1% annualized gain. Admittedly that monthly rise was stronger than Augusts 0.1% uptick, but the yearly figure was unchanged. Moreover the ‘trimmed mean’ measure showed inflation up just 1.8% on the year.
The Reserve Bank of Australia will give its October interest rate decision on Tuesday. It is expected to keep the Official Cash Rate at its now-venerable 1.50% record low once again.
The Australian economy is not doing at all badly on many counts, notably overall growth and job creation. Article source: https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2018/10/01/Australian-Dollar-Looks-To-RBA-As-TD-Inflation-Stays-Docile.html