NEW YORK ( TheStreet) --The Australian dollar has been one of the worst-performing developed market currencies this year. But improved GDP data and changing expectations in central bank policy indicate that we have probably reached a bottom in the Aussie downtrend.This week, a series of important monetary policy meetings is taking place. One of the first on schedule was at the Reserve Bank of Australia. Given the increasingly dovish narrative that has been expressed by the RBA in recent meetings, large sections of the market were caught off-guard after the meeting came to its conclusion.
GDP, Central Bank Statement to Fuel Aussie Gains
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.