The AUD/USD pair is trading down on Wednesday afternoon, despite the good statistics from Conference Board.
At mid-day on Wednesday, the Australian dollar came under pressure again. The current quote in the AUD/USD pair is 0.7100. Overall, since the beginning of the week it is trading within a fairly narrow range, but thoroughly plays out all the incoming news.
According to statistics published this morning, the index of leading indicators from Conference Board in September this year amounted to 0.1% against 0.4% in August. If we evaluate the index as a forward-looking economic indicator index, its value is quite pleasant. The improvement in the leading indicators means that in the medium term significant growth in the Australian economy is not excluded - both in the employment sector and in manufacturing.
In the components of the report, it is clear that in six months the index fell to -0.9%, while three of the seven calculation parameters improved. Economic activity strengthened slightly. The coincident index in September added 1.1%. Here three of the four key parameters strengthened.
Today's statistics generally coincides with what was previously said by the Reserve Bank of Australia - in the economy, there are signs of successful recovery. However, not all of them are clearly visible. The system needs time without external stress, to allow the "green shoots" in the economic system to take root.
Today, the calendar does not have much important macroeconomic statistics. In the afternoon, the Aussie will follow the US dollar.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.