Ella 
The Australian dollar extended its winning streak against the U.S. dollar on Tuesday, rising for the fourth consecutive day. Minutes from the Reserve Bank of Australia’s August meeting suggest the cash rate is likely to remain stable for an extended period, with the AUD/USD likely to appreciate further.
The Reserve Bank of Australia has considered raising interest rates, but believes keeping rates stable better balances risks. Reserve Bank of Australia members unanimously believe that a rate cut is unlikely in the short term.
The People’s Bank of China (PBoC) kept the one-year and five-year loan prime rates unchanged at 3.35% and 3.85% respectively at its August meeting on Tuesday. Since China and Australia are close trading partners, changes in China’s economy may have an impact on the Australian market.
The U.S. dollar (USD) continues to face downward pressure as Federal Reserve (FED) officials raise the possibility of an imminent rate cut by the Federal Reserve. Federal Reserve Chairman Jerome Powell is about to speak at the Jackson Hole meeting on Friday, and the market is focusing on this event.
