The Australian dollar stayed above 70 U.S. cents late Friday, with its latest market quote higher than the Reserve Bank of Australia’s Oct. 23 reference reading as the country’s September inflation report approaches.
FXStreet quoted AUD/USD at 0.7035 at 7:07 p.m. ET Friday and said the pair rose more than 0.22% over the session. The RBA’s separate reference rate was 0.7006 at 4 p.m. AEDT on Oct. 23 (1 a.m. ET), so the figures capture different points in the day.
FXStreet reported that AUD/USD had reclaimed 0.7000 and was quoted at 0.7035 late Friday.
In its chart review, FXStreet marked 0.7074 as a nearby ceiling and 0.7100 as another level in focus. The outlet also identified 0.7000 as an initial floor, with 0.7150 and 0.7237 farther above. These are technical levels cited by FXStreet. The outlet said expectations for another RBA rate increase before 2027 had contributed to support for the Australian dollar.
The RBA lifted its cash rate target by a quarter-point to 4.60% on Sept. 29. It had already raised rates in February, March and May, making the September move its fourth increase of 2026. The bank cited elevated inflation and upside risks in its decision.
On Oct. 21, RBA Deputy Governor Andrew Hauser said the inflation outlook was “materially worse than we projected in the August report.” He pointed to higher oil prices, AI-related demand and domestic capacity pressures. Hauser also said higher rates add to the burden on mortgage holders, while the RBA sees a risk that inflation will remain elevated.
The Australian Bureau of Statistics is due to release September CPI data Tuesday, Oct. 27, at 8:30 p.m. ET (11:30 a.m. AEDT Oct. 28). The RBA’s Monetary Policy Board is scheduled to meet Nov. 2–3, with its decision due Nov. 3.
