Mountain Tech Analysis

AUDUSD

• At 0.63 USD
• Rates on hold at 4.1% compared to feds 5.5% . After the RBA failed to raise its interest rates at its last meeting on OCT 3 , the AUDUSD slid from 0.65 to 0.63 as the hopes of further interest rate rises have been shedded. FED announced a further rise in interest rates to combat inflation . 
• Australian CPI stands at 6% .It rose by 0.8% this quarter. The RBA is underestimating the impact of a weak dollar on import prices and what it can do to overall inflation. They are scared to raise the rates up so they don’t hurt the indebted mortgage holders which are under severe mortgage stress all across Australia especially in the capital cities. Quarterly Rents rose by 2.5% , with international travel and accomodation by 6.2%.Rents are surging as investor owners try to defend their returns with the rising interest rates with the latest inflow of new immigrants post covid lockdowns.