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Markit is expected to remain below 50 points in the US business activity index in the industry. In turn, the optimistic tone of the Reserve Bank of Australia strengthens the AUD. The AUD/USD pair fell below 0.67 in the early trading sessions, but then decisively compensated for losses against the optimistic tone of the Reserve Bank of Australia - + 0.27% to 0.6730. As expected, the RBA kept monetary policy unchanged, but the regulator is ready to soften the policy if it is necessary to support sustainable economic growth. In addition, the bank voiced an optimistic forecast, saying that it expects a gradual increase in Australia's economic growth in the future. "The forecast is supported by low interest rates, tax cuts, rising infrastructure costs, a revival in the residential real estate market and a strong resource sector," the RBA said.
At the same time, analysts, having studied the minutes of the meeting of bank officials, believe that the regulator did not say anything new. "The general comment in the statement following the meeting is very similar to the August report. The most important changes were not as large as we would like, the situation on the housing markets is unstable, it is also worth paying attention to the fact that construction activity has weakened," Westpac analysts said. At the same time, the US dollar index, which tracks its value against a basket of six major currencies, is at the highest level since May 2017, about 98.30 points, and this inhibits the growth of the pair.
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