AUD Targets Growth: Overview for January 30, 2024

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSD_5-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="AUD/USD analysis today" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD/USD</a> pair is currently consolidating within a range, exhibiting minimal response to recent statistics.</p>

<p>The Australian dollar, in conjunction with the US dollar, has seen a slight increase, with the current AUD/USD exchange rate at 0.6610.</p>

<p>In December, retail sales in Australia experienced a more substantial decline than anticipated, falling by 2.7% m/m instead of the expected 1.7%. This data marks the weakest performance for the year. Following the release of these statistics, Australian bonds continued their ascent, leading to an increase in the three-year bond yield.</p>

<p>The dip in retail sales followed a revision of November's data, where retailers had offered significant discounts, reinforcing an established trend.</p>

<p>Consumers are evidently gravitating towards more affordable options as <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> increasingly impacts living standards.</p>

<p>The upcoming Reserve Bank of Australia meeting, scheduled for 5 or 6 February, might take the retail sales report into consideration. Given that consumption contributes to over half of the country&rsquo;s <a href="https://blog.roboforex.com/blog/2019/10/29/trading-news-how-to-make-money-on-gdp/" data-internallinksmanager029f6b8e52c="93" title="GDP">GDP</a>, any imbalances in this sector pose significant challenges.</p>

<p>The current RBA <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> stands at 4.35% per annum, the highest in the past 12 years. The RBA has previously suggested that achieving an inflationary balance might necessitate further tightening of monetary conditions.</p>

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<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a href="https://blog.roboforex.com/blog/2024/01/30/aud-targets-growth-overview-for-january-30-2024/">AUD Targets Growth: Overview for January 30, 2024</a> appeared first at <a href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>