AUDUSD | Market outlook

AUD has fallen tentatively against USD on Friday being near new record lows since December 2020. The instrument lost in value the day before, despite the publication of rather weak statistics on jobless claims in the US, which, in part, was provoked by technical factors of the correction. The main reason for the sale of AUD was the statements of the Reserve Bank of Australia (RBA) Governor, Philip Lowe, who hastened to calm the markets, agitated by the recent decision of the regulator to cut the quantitative easing program to 4B dollars a week. The official stressed that in the face of existing economic risks, the Australian economy still needs support, and the RBA will try to respond to the changing situation with some anticipation. Lowe also paid special attention to the labor market, noting that the pace of growth in wages has slowed down recently and does not allow inflation to reach target levels.