The Australian dollar rose against most major currencies after Australia's central bank decision to reduce the medium-term forecasts on inflation and economic growth, saying that economic growth is not fast enough to prevent further increase in unemployment, analysts of TeleTrade said (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
Recently there were no substantive evidence of the domestic economy recovery, according to the Central Bank quarterly report. Despite the long period of low interest rates, inflation was subdued and likely to remain so in the next two years. On Tuesday, the RBA cut interest rates by a quarter-percentage point to a record low of 2.25 percent.
The U.S. dollar traded without significant changes in anticipation of today's data publication on U.S. non-farm employment. The December report on non-farm employment showed an increase in the number of workplaces - by 252,000 compared with November.
Experts believe that in January, job growth continue, but will slightly slacken the pace. Meanwhile, analysts point out the coming months’ job decrease. Nevertheless, they are still waiting for reducing unemployment to 5.2 percent by the end of the year.
