Melbourne Institute has recently published the results of a survey concerning consumers’ inflation expectations in June. The data show that indicator remained unchanged at 2,3%.
The figures are within the inflation target range set by the RBA, which is 2-3%. At the same time, the survey shows that the income and inflation expectations remain moderate despite the fact that the RBA keeps easing its monetary policy along with keeping interest rates around historical lows.
The experts assume that these expectations will allow the government to ease the control over the existing inflation processes and to focus on economic growth. If the Australian economy shows sings of weakness, the RBA will continue easing its monetary policy.
According to Masterforex-V Academy, the Australian Dollar keeps weakening against the US Dollar. The experts report that AUDUSD is forming wave А(С)/С of Weekly.
A further downswing will give way to 0.9278, 0.9132/092. The current bearish move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above 0.9790 (as shown below).
