Australian Dollar Strengthens! Fed Concerns and Economic Data Drive Investors to Shift
The Australian Dollar (AUD) strengthened again against the US Dollar (USD) on Monday, after three consecutive days of decline. This strengthening was triggered by a weakening US Dollar, likely related to market concerns about Federal Reserve policy, including the criminal investigation into Fed Chairman Jerome Powell related to the renovation of the central bank's headquarters.
Domestically, Australian economic data showed signs of consumer caution. ANZ job advertisements fell 0.5% in December, while household spending rose 1.0% in November, lower than the previous month. This slowdown suggests consumers remain cautious amid high interest rates and persistent inflation.
Investors are also paying attention to the Reserve Bank of Australia (RBA) policy outlook. RBA Deputy Governor Andrew Hauser said November's inflation data was largely in line with expectations, and that an interest rate cut is unlikely anytime soon. Focus now turns to the quarterly CPI report later this month, which will provide clearer guidance on the RBA's next steps. (az)
Source: Newsmaker.id
