AUD/USD keeps gains even as RBA's Debelle says rate hike unlikely

  • AUD/USD retains bid, trades 0.3% higher at 0.7314.
  • RBA's Deputy Governor says rate hikes unlikely for three years. 

The AUD/USD pair shrugs off dovish comments by a Reserve Bank of Australia (RBA) official and continues to trade at session highs above 0.73. 

RBA's Debelle was out on the wires a few minutes before press time, stating that the central bank is unlikely to raise rates for three years and bond purchases need to continue as Australia's 10-year government bond yields are still higher than its peers. 

Other key quotes

  • Must be careful not to remove policy stimulus too early
  • Australia's government debt is very manageable
  • A materially lower jobless rate needed to lift wages, inflation
  • says banks have strong balance sheets to support the economy into recovery
  • The average mortgage interest rate paid by households to decline further
  • News about vaccines should help bolster confidence

The central bank has reiterated time, and again that policy normalization is at least a few years away. As such, Debelle's dovish comments are not surprising and have failed to influence the pair. 

The AUD/USD pair picked up a bid below 0.7290 early Tuesday and is currently trading at 0.7314, representing a 0.3% gain on the day. 

Australia reported preliminary trade numbers for October, showing a 6% month-on-month rise in exports and an 8% increase in imports. The trade surplus narrowed to AUD 4,840 million versus AUD 5,630 million in September. 

Technical levels


Today last price 0.7314
Today Daily Change 0.0030
Today Daily Change % 0.41
Today daily open 0.7284
Daily SMA20 0.7215
Daily SMA50 0.7178
Daily SMA100 0.7171
Daily SMA200 0.6843
Previous Daily High 0.7357
Previous Daily Low 0.7264
Previous Weekly High 0.734
Previous Weekly Low 0.7254
Previous Monthly High 0.7244
Previous Monthly Low 0.7002
Daily Fibonacci 38.2% 0.73
Daily Fibonacci 61.8% 0.7322
Daily Pivot Point S1 0.7246
Daily Pivot Point S2 0.7209
Daily Pivot Point S3 0.7154
Daily Pivot Point R1 0.7339
Daily Pivot Point R2 0.7394
Daily Pivot Point R3 0.7431



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD: Bears hold the grip, critical challenge at 1.2000

The greenback firmed up at the end of the week, closing it with substantial gains against most major rivals. Renewed coronavirus concerns and poor macroeconomic data spurred risk-off. EUR/USD is firmly bearish.


GBP/USD: Further restrictions in the UK may hit the pound

The GBP/USD pair trimmed most of its weekly gains on Friday and settled in the 1.3580 price zone, amid risk-off fueling dollar’s demand. UK GDP contracted by less than anticipated in November, Industrial Production plunged.


Gold: Further decline toward $1,800 remains on the cards

Gold failed to stage a convincing rebound this week. After losing more than 2% in the previous week, the XAU/USD pair extended its slide on Monday and touched its lowest level since early December at $1,817. 

Gold news

Darkest fefore dawn

The upcoming economic news is likely to be dreadful, and if it is not dreadful, it will be mostly ignored. This includes the release of the preliminary January PMI figures at the end of the week. Japan is extending its national emergency to another five prefectures, which collectively account for over half of the nation's GDP.

Read more

DXY breaks above key downtrend, eyes move above 91.00

USD has been strongly supported on what has shaped up to be a very much risk off final trading day of the week. Most G10/USD pairs have seen significant weakness, aside from CHF/USD and JPY/USD, given that the two currencies are also considered “safe havens”.

US Dollar Index News