The Australian dollar recovered from recent lows against other major currencies in the Asian session on Tuesday, after the Reserve Bank of Australia released the minutes of the July 4 meeting that showed an upbeat assessment of the economy.
The RBA minutes showed that the members of the policy board assessed the country's economic recovery has slowed in recent months. That prompted the members to maintain a level of careful monitoring for economic conditions, although the depreciating currency rate continues to support the recovery.
On the whole, the global economy continues to recover in satisfactory fashion, the minutes said.
At the meeting, the RBA kept its benchmark interest rate unchanged at a record low 1.50 percent for the tenth consecutive meeting.
Data from the Australian Bureau of Statistics showed that the total number of new motor vehicle sales in Australia was up a seasonally adjusted 1.2 percent on month in June, coming in at 102,275. That follows the 3.1 percent jump in May.
On a yearly basis, sales advanced 3.6 percent, slowing from 5.3 percent in the previous month.
In the Asian trading, the Australian dollar rose to a 1-1/2-year high of 88.62 against the yen and more than a 2-month high of 1.4589 against the euro, from an early 5-day lows of 87.49 and 1.4777, respectively. If the aussie extends its uptrend, it is likely to find resistance around 89.00 against the yen and 1.43 against the euro.
Against the U.S. and the Canadian dollars, the aussie advanced to a 2-year high of 0.7904 and nearly a 3-week high of 0.9995 from an early 4-day lows of 0.7786 and 0.9873, respectively. The aussie may test resistance around 0.80 against the greenback and 1.01 against the loonie.
The aussie edged up to nearly a 2-month high of 1.0768 against the NZ dollar, from an early low of 1.0636. The aussie is likely to find resistance around the 1.09 region.
Meanwhile, the other antipodean currency, the NZ dollar, also rebounded against its major rivals following the release of RBA minutes.
The NZ dollar rose to 82.36 against the yen, from an early near 3-week low of 81.67. The kiwi is likely to find resistance around the 84.00 region.
Against the euro and the U.S. dollar, the kiwi advanced to 1.5700 and 0.7347 from an early 6-day low of 1.5827 and a 5-day low of 0.7261, respectively. If the kiwi extends its uptrend, it is likely to find resistance around 1.53 against the euro and 0.74 against the greenback.
Looking ahead, U.K. consumer price, producer price and retail price indexes for June and house price index for May and Germany ZEW economic sentiment index for July are due to be released later in the day.
In the New York session, U.S. import price index for June and U.S. NAHB housing market index for July are slated for release.
At 9:30 am ET, Bank of England Governor Mark Carney is expected to speak at the unveil of the new £10 note, in Hampshire.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.