{"id":2544036,"date":"2023-05-30T20:24:28","date_gmt":"2023-05-31T00:24:28","guid":{"rendered":"https:\/\/platoai.gbaglobal.org\/platowire\/rbas-lowes-hawkish-stance-pushes-aud-usd-above-0-6500-before-china-pmi-and-aussie-inflation-reports\/"},"modified":"2023-05-30T20:24:28","modified_gmt":"2023-05-31T00:24:28","slug":"rbas-lowes-hawkish-stance-pushes-aud-usd-above-0-6500-before-china-pmi-and-aussie-inflation-reports","status":"publish","type":"platowire","link":"https:\/\/platoai.gbaglobal.org\/platowire\/rbas-lowes-hawkish-stance-pushes-aud-usd-above-0-6500-before-china-pmi-and-aussie-inflation-reports\/","title":{"rendered":"RBA&#8217;s Lowe&#8217;s hawkish stance pushes AUD\/USD above 0.6500 before China PMI and Aussie inflation reports"},"content":{"rendered":"<p>The Reserve Bank of Australia&#8217;s (RBA) Governor, Philip Lowe, has taken a hawkish stance on the country&#8217;s economic recovery, which has pushed the Australian dollar (AUD) above 0.6500 against the US dollar (USD). This comes ahead of two key reports that will provide further insight into the state of the Australian economy: China&#8217;s Purchasing Managers&#8217; Index (PMI) and Australia&#8217;s inflation data.<\/p>\n<p>Lowe&#8217;s comments came during a speech to the Anika Foundation in Sydney, where he stated that the worst of the economic downturn caused by the COVID-19 pandemic may be over. He also noted that the country&#8217;s economic recovery is likely to be faster than previously anticipated, due to the easing of restrictions and the government&#8217;s stimulus measures.<\/p>\n<p>This optimistic outlook has boosted investor confidence in the AUD, leading to its rise above 0.6500 against the USD. However, this could also lead to concerns about the impact on Australia&#8217;s export industry, as a stronger currency can make exports more expensive and less competitive in global markets.<\/p>\n<p>The upcoming China PMI report will provide insight into the state of China&#8217;s manufacturing sector, which is a key trading partner for Australia. A positive report could further boost investor confidence in the AUD, while a negative report could lead to a decline in the currency&#8217;s value.<\/p>\n<p>The Australian inflation data, which will be released later in the week, will also be closely watched by investors. The RBA has set a target inflation rate of 2-3%, and any deviation from this target could lead to changes in monetary policy, which could impact the value of the AUD.<\/p>\n<p>Overall, while Lowe&#8217;s hawkish stance has provided a boost to the AUD, there are still uncertainties surrounding the state of the global economy and Australia&#8217;s recovery. Investors will be closely watching the upcoming reports to gain further insight into these factors and their potential impact on the currency.<\/p>\n<ul class=\"plato-post-bottom-links\">\n<li class=\"plato-post-bottom-link-amplifi\">SEO Powered Content &amp; PR Distribution. <a href=\"https:\/\/www.amplifipr.com\" target=\"_blank\" rel=\"noopener\">Get Amplified Today.<\/a><\/li>\n<li class=\"plato-post-bottom-link-preipo\">Buy and Sell Shares in PRE-IPO Companies with PREIPO\u00ae. <a href=\"https:\/\/www.preipo.com\/?utm_source=plato&amp;utm_medium=plato&amp;utm_campaign=plato\" target=\"_blank\" rel=\"noopener\">Access Here.<\/a><\/li>\n<li class=\"plato-post-bottom-link-platoaistream\">PlatoAiStream. Web3 Data Intelligence. Knowledge Amplified. <a href=\"https:\/\/platoaistream.com\" target=\"_blank\" rel=\"noopener\">Access Here.<\/a><\/li>\n<li class=\"plato-post-bottom-link-platodata-source\"><span>Source:<\/span> <a href=\"https:\/\/platodata.io\" target=\"_blank\" rel=\"noopener\">Plato Data Intelligence.<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank of Australia&#8217;s (RBA) Governor, Philip Lowe, has taken a hawkish stance on the country&#8217;s economic recovery, which has pushed the Australian dollar (AUD) above 0.6500 against the US dollar (USD). This comes ahead of two key reports that will provide further insight into the state of the Australian economy: China&#8217;s Purchasing Managers&#8217; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2527029,"menu_order":0,"template":"Default","format":"standard","meta":[],"aiwire-tag":[14,929,789,2051,11,17,18,5163,20,21,22368,24898,7983,5305,5472,24885,954,23,956,7754,4712,29,2401,219,964,2784,4145,4354,1396,971,1772,147,685,2558,227,1184,5219,5483,5484,1189,591,4508,2570,4317,687,997,3398,1195,15456,20654,1196,2726,8452,13194,2199,238,50,2022,51,2075,382,1222,16348,13156,469,8457,3405,56,168,57,1230,58,2219,3410,5960,3701,477,1339,172,60,62,887,2675,692,291,1435,65,178,2827,1852,23307,891,395,329,2364,69,2743,4367,75,78,260,353,185,2241,2103,5,10,7,8,24610,5330,81,82,830,190,1089,5962,10868,1818,20722,8905,1938,1939,771,1106,1107,20726,1546,2261,496,1113,708,10837,3080,1993,1119,502,4482,637,6625,9993,1124,713,107,108,109,1995,110,305,207,111,2694,115,9607,10160,916,4380,4567,1730,3946,9,1303,1838,123,124,6498,6],"aiwire":[29811],"_links":{"self":[{"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/platowire\/2544036"}],"collection":[{"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/platowire"}],"about":[{"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/types\/platowire"}],"author":[{"embeddable":true,"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/users\/2"}],"version-history":[{"count":0,"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/platowire\/2544036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/media\/2527029"}],"wp:attachment":[{"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/media?parent=2544036"}],"wp:term":[{"taxonomy":"aiwire-tag","embeddable":true,"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/aiwire-tag?post=2544036"},{"taxonomy":"aiwire","embeddable":true,"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/aiwire?post=2544036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}