The Australian dollar started the week with growth. Overview for 08.02.2016
08.02.2016
The AUD/USD is trading up on Monday, China has gone on a long vacation.
On Monday, the Australian dollar is trading on the upside in the pair with the American counterpart. The current quotation of the instrument is 0.7118.
The closest and strategically important for Australia trade and economic partner, China, went on long holidays - this week of February, there are several important events for the population. The New Year on the Chinese calendar is starting. This means that in the next five days no important statistics on the Chinese economy will be published.
However, before going away on vacation, the Celestial Empire, presented a report on the state of its reserves. As of the end of January, the figure was $ 3.23 trillion compared to the forecast of $ 3.21 trillion. With all the apparent equilibrium, the volume cushion of the country fell to a four-year low. In the last month and a half, China's central bank intervened in order to replenish the liquidity of the economy. They have not gotten to the replenishment of the gold reserve yet.
For Australia, the complexity of the Chinese economy is not very good news. However, within the Australian economic system all looks quite harmoniously, and the RBA has repeatedly pointed to the likelihood of easing monetary conditions, if circumstances so require. The Australian regulator in most cases acts ahead of the curve, but for now this is not necessary.
RoboForex Analytical Department
On Monday, the Australian dollar is trading on the upside in the pair with the American counterpart. The current quotation of the instrument is 0.7118.
The closest and strategically important for Australia trade and economic partner, China, went on long holidays - this week of February, there are several important events for the population. The New Year on the Chinese calendar is starting. This means that in the next five days no important statistics on the Chinese economy will be published.
However, before going away on vacation, the Celestial Empire, presented a report on the state of its reserves. As of the end of January, the figure was $ 3.23 trillion compared to the forecast of $ 3.21 trillion. With all the apparent equilibrium, the volume cushion of the country fell to a four-year low. In the last month and a half, China's central bank intervened in order to replenish the liquidity of the economy. They have not gotten to the replenishment of the gold reserve yet.
For Australia, the complexity of the Chinese economy is not very good news. However, within the Australian economic system all looks quite harmoniously, and the RBA has repeatedly pointed to the likelihood of easing monetary conditions, if circumstances so require. The Australian regulator in most cases acts ahead of the curve, but for now this is not necessary.
RoboForex Analytical Department
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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.