The recent decision of the Reserve Bank of Australia

The risk-off sentiment in the global market and the recent decision of the Reserve Bank of Australia to hold on to its current interest rates have slowed down the Australian dollar in the trading sessions. It is believed that the exchange rate’s prices will fall to its support level as the US dollar sees an opportunity to snatch some gains against the Australian dollar. A lot has happened in the past few weeks for the Australian dollar and the US dollar – the fiscal push of the authorities from the United States, the latest news about Trump, the debate last week, and the decision of the RBA. Looking at it, all of these have mixed effects on the risk sentiment in the trading market. just recently, President Trump reportedly called off the stimulus negotiations between the Republicans and Democrats, casting a cloud of doubt and uncertainties for the American economy. The controversial decision of the president has sparked the risk-off sentiment in the global market.