AUD/USD uninspired around 0.7250 post-RBA

• The RBA’s on-hold policy strategy leaves little room for the AUD/USD to move post-SoMP.
• Market flows  remain tepid heading into Friday’s Pacific-Asia session.

The AUD/USD is trading into 0.7260, unmoved by the Reserve Bank of Australia’s (RBA) latest Statement of Monetary Policy.

The RBA dropped their latest Monetary Policy Statement early Friday, and the central bank’s stance has given Aussie traders little to chew on, with the RBA maintaining their no-movement stance on interest rates or monetary policies in general. The Aussie central bank has gone over two years without laying a finger on interest rates, and the rut that the RBA finds itself buried within looks set to remain for some time.

The central bank noted that while inflation and GDP growth are expected to remain “above trend”, wages remain frustratingly lower than hoped, and trade tensions from the US-China tariff spat remains a significant  headwind for confidence looking forward.  

AUD/USD Technical Levels