The AUD/USD pair is strengthening for the second day in a row; the market is doubtful of the theoretical rally of the US Dollar.
On Tuesday, the Australian Dollar continues to grow against its American colleague. The current quote for the instrument is 0.7659.
Today’s statistics indicated that the confidence index in the business sphere in Australia over the previous month increased up to 6 points against the number of 3 points the month before. This report explains the understanding of short-term tendencies in the business sphere in the economy; right now the trend is positive and this is good for the Aussie rate.
Conditions index in the business sphere from NAB in Australia in March strengthened up to 12 points and this was the biggest recovery over the last several months. In February, the indicator stayed at 8 points. The components of the report say that the positive impulse can be seen in all three calculation parameters, from trading to employment.
Certainly, the statistics is positive, but it describes only a short-term perspective. So far, China, Australia’s major trade and economic partner, is providing stable statistical reports, but yet they are quite doubtful and the economy growth rate is slowing down gradually. Of course, we can say that not once China has returned to the fast economy growth, no one can argue that. However, the current situation is not a routine one, it’s very problematic and difficult to resolve. All these factors throw an expected shadow on the Australia’s economic system.
RoboForex Analytical Department
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