FX.co ★ The US dollar continues to rise

The Australian dollar reacted with restraint to the publication of the minutes from the last meeting of the Reserve Bank of Australia, because traders did not find anything new to radically affect the situation.

According to the data, members of the RBA board are confident that the economic conditions since 2016 have become more favorable, but interest rates are likely to remain low, despite the reduction in monetary stimulus. The RBA agreed that the acceleration of GDP growth in recent years will continue, as the weakness in the previous quarter was temporary. In the future, this may affect the timing of changes in interest rates, which depend on the development of the situation in the Australian economy.

As for the high exchange rate of the Australian dollar, which the regulator fears, the additional disadvantage, besides export problems, is the formation of low price pressure.

In general, the technical picture of the AUD / USD pair indicates the probability of continued growth in the trading instrument after the failed attempt by the bears to gain a foothold under the lower boundary of the side channel located in the 0.7800 area. The return to this level retains a fairly good upside potential with the update of the middle of the channel 0.7950, and also the exit to its upper bound 0.8025.

The New Zealand dollar today has significantly strengthened its positions against the US dollar, having updated the weekly highs, but could not hold on to these positions. The support for the pair NZD / USD was provided by the data on the consumer price index in the 3rd quarter of this year, which surpassed the forecasts of economists.

According to the report, inflation in New Zealand in the third quarter increased by 0.5% compared with the second quarter, while economists expected growth of only 0.4%. Compared to the same period in 2016, the consumer price index rose by 1.9%, against the forecast of 1.8%.

The truncated average consumer price index in New Zealand in the third quarter increased by 0.5% and 2.0%, respectively.

The US dollar rose against a number of world currencies after the news that on Thursday appointed the meeting of US President Donald Trump with the chairman of the Federal Reserve, Janet Yellen. Most likely, the possibility of Yellen's nomination for a second term as head of the Central Bank will be discussed. If so, then the demand for the US dollar could grow substantially, as many investors expect more active measures in the future from the current head of the Federal Reserve regarding monetary policy.