Australian Dollar Has Declined After Weak Inflation Data
Markets are waiting for the decision of the US Federal Reserve regarding monetary policy. It is expected, that the interest rate will remain unchanged. The rate hike is expected in December. It is also expected, that the Fed will announce a reduction in the balance of assets.
The Australian dollar has weakened today after lower than expected inflation data. The consumer price index of Australia rose in the second quarter by 0.2% qoq, which is below the forecast of 0.4% qoq.
The UK GDP increased by 0.3% quarter-on-quarter in the second quarter, in line with analysts’ expectations. Chancellor of Exchequer Philip Hammond noted that the economy has grown continuously for four-and-a-half years, delivering record levels of employment.