The Australian Dollar has stabilized. Overview for 05.05.2016
05.05.2016
The AUD/USD pair is trading a bit upwards after significant sales over the last couple of trading sessions.
The Australian Dollar stabilized on Thursday. The current quote for the instrument is 0.7476.
Today’s statistics indicated that retails sales in Australia in March increased by 0.4% m/m against the expected number of 0.3% m/m. The data in February, in its turn, was revised in favor of the improved number of 0.1% against zero at the first time. Improvement of retail sales indicator is usually considered as a good sign in the economy. The increase in retail sales supports the cost of the Australian Dollar.
Sales of new buildings this March increased by 8.9%. The country’s balance of trade in March turned out to be better than it was expected. Exports of goods and services in March improved from -1% to 4%. Imports increased by 1% after not changing in February.
These signs are also good, and they support the cost of the Australian Dollar as well. Good statistics from China was another good “brick” in today’s wall and allowed the Aussie to stabilize after previous sales.
However, in the near-term, new sales may yet start in the AUD/USD pair, because ahead we have a lot of American statistics on the employment market.
RoboForex Analytical Department
The Australian Dollar stabilized on Thursday. The current quote for the instrument is 0.7476.
Today’s statistics indicated that retails sales in Australia in March increased by 0.4% m/m against the expected number of 0.3% m/m. The data in February, in its turn, was revised in favor of the improved number of 0.1% against zero at the first time. Improvement of retail sales indicator is usually considered as a good sign in the economy. The increase in retail sales supports the cost of the Australian Dollar.
Sales of new buildings this March increased by 8.9%. The country’s balance of trade in March turned out to be better than it was expected. Exports of goods and services in March improved from -1% to 4%. Imports increased by 1% after not changing in February.
These signs are also good, and they support the cost of the Australian Dollar as well. Good statistics from China was another good “brick” in today’s wall and allowed the Aussie to stabilize after previous sales.
However, in the near-term, new sales may yet start in the AUD/USD pair, because ahead we have a lot of American statistics on the employment market.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.