At the end of the week, the AUD/USD in rather stable; the country’s positive statistics couldn’t provide enough support for growth.
On Friday, the Australian Dollar is looking good against the USD. The current quote for the instrument is 0.7414.
Today’s statistics was quite good. The Retail Sales in October added 0.5% m/m against expectations of 0.3% m/m. However, in comparison with the previous month, the indicator weakened a bit – in September it added 0.6% m/m. Nevertheless, the report itself looks not bad, because the positive data indicates the country’s economy growth rate.
In addition to that, the overall statistics for the period from August to October brings us to a conclusion that the Retail Sales sector improved if compared with the first half of the year. Considering that next week Australia is going to publish the GDP report over the third quarter, the risks about the report contents are not so high thanks to the today’s report. Solid numbers of the Retail Sales may provide significant support for the country’s economy.
The next week will be packed with the important news for the Aussie. On December 6th
, another RBA meeting will take place. The interest rate is expected to remain unchanged at 1.5%. And then, the situation is completely opposite: most economists surveyed by Reuters expect the rate to be increased in the first quarter of 2017. However, another big amount of those surveyed doesn’t exclude a possibility that it might be decreased in the first half of 2017. In other words, the market is waiting for the rate to be changed next year until June, but no one is sure why way.
RoboForex Analytical Department
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