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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Australian dollar is changing its direction again
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The Australian dollar is changing its direction again

The AUD/USD pair is trading upward after the publication of good statistics on the employment market in Australia.

The Australian dollar is back on the horse. On Thursday afternoon, the AUD/USD pair is trading with a marked increase around the level of 0.7288.

Today, data on the unemployment rate in Australia was published. In November, the figure fell to 5.8% against the previous value of 5.9% and the forecast of 6.0%. The components of the report show that the number of jobs in the Australian economy last month added more than 71 thousand. The strengthening of the labour market is a positive indicator for the national currency.

In the morning, it became known that China weakened the position of the Yuan against US dollar for the second time this week. Thus, the People's Bank of China controls the value of its currency based on the parameters of trade surplus - statistics released this week, soon proved to be minor. The surplus declined m/m significantly, export parameters are kept in the negative area, the import parameters rebounded slightly after the October dip, but also remain in the negative area. This, apparently, explains today's decision of the Central Bank of China.

The Australian dollar did not take into account the devaluation of the Yuan in a full-fledged manner - there is no sensation here. After the International Monetary Fund added the Yuan to the basket of reserve currencies, it was clear now that China will actively promote its currency on a global scale.
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