On Thursday, the AUD/USD pair is trading to the downside after a couple of days of stabilization – the market is responding to statistics.
The Australian Dollar is falling on Thursday in the pair with the US Dollar. The current quote for the instrument is 0.7321.
An interesting report was published today in Australia. Inflation expectations in the country in May decreased up to 3.2% against the previous number of 3.4. The information was collected by the Melbourne institute and shows customer expectations for the long-term o the CPI – on average for the next 12 months. Normally, it is considered that the higher the indicator, the more support the Australian Dollar receives. This time, expectations decreased, which is not optimistic for the Aussie.
Over the first quarter of 2016, the CPI in Australia decreased by 0.2%, which hasn’t happened since 2001. This is why the attention to inflation reports is so huge.
Today’s trading session might as well be quite calm if the commodity market stabilizes and stops swaying from side to side aggressively and in a random way. The US Dollar is still weak against the Euro, and it may help the Aussie to stabilize.
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.