The AUD/USD pair is trading lower on Tuesday after the publication of statistical data on the Australian economy.
The Australian dollar this week was left without support from China, which has gone on long vacations in connection with the New Year on the eastern calendar. Against this background, the AUD/USD pair has been very sensitive to the Australian statistics. The current quotation of the instrument is 0.7047.
This morning statistics were released on the index of confidence in the business circles of Australia from NAB. According to the report, the index for January amounted to only 2 points against the December value of 3 points. The components of the release show that the index of business conditions in the past month fell to 5 points versus 6 points previously. The evaluation of the indicators for business confidence is informative for understanding the short-term perspectives. It seems that now the conditions for doing business within the economy have somewhat changed - and not for the better. This is why business structures evaluate the next couple of weeks very carefully. This is even more noticeable, because the Celestial Empire spend the time Christmas holidays very energetically filling the economy with liquidity - they are obviously working to mitigate the financial conditions in the system for the stabilization and recovery. It is very important for Australia.
At the same time, most likely, in the market there is a reaction to the comments of the International Monetary Fund with respect to New Zealand and its regulator. The IMF does not rule out that the RBNZ should be ready for a new wave of easing in monetary policy. Naturally, the opinion of the fund is solely advisory in nature, but the market always takes these nuances into account.
Until the Chinese investors return to trading, the Australian Dollar will be very sensitive to any external news.
RoboForex Analytical Department
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