- The Australian Dollar moves sideways as the US Dollar holds ground amid market caution.
- RBA’s Bullock warned that elevated unit labor costs and weak productivity could drive inflation above current forecasts.
- Trump announced a 35% tariff rate for goods imported from Canada.
The Australian Dollar (AUD) experiences volatility against the US Dollar (USD) on Friday, driven by traders’ caution over fresh tariff tensions. However, the AUD/USD pair faced challenges following the introduction of new tariff actions by US President Donald Trump. President Trump announced on Thursday a 35% tariff rate for goods imported from Canada, effective August 1. He further stated that the European Union (EU) would receive a letter notifying them of new tariff rates “today or tomorrow.”
The AUD receives support after the Reserve Bank of Australia (RBA) surprisingly decided to maintain…
