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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Australian Dollar weakened significantly. Overview for 11.10.2016
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The Australian Dollar weakened significantly. Overview for 11.10.2016

The AUD/USD pair got significantly weaker on Tuesday, being influenced by the demand for the American currency.

On Tuesday, the Australian Dollar is falling in the pair with the American currency. The current quote for the pair is 0.7552; the daily decline is 0.7%.

Today’s statistics published by Australia was rather complex. The changes of the mortgage lending in August was estimated at -3.0%, which is quite a serious decline. Other report that was published, the NAB Business Confidence, in September was 8 points. It’s rather neutral.

The slump in mortgage lending products, which eventually resulted in the reduction of originated loans, counted against the Aussie. Whether it’s a tendency or an accident, we’ll see it later, after new reports are published. So far, the single report is negative.

Additional pressure on the Aussie is place by the increased demand for the USD as the “safe haven” currency. The craze in the oil market isn’t dying down, but entering its critical phase when the correction may turn out to be insignificant. Possibly, this is exactly what makes the USD stronger.
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