The AUD has slowed its growth

17.04.2015
After falling on the background of mixed Chinese statistics this week the Australian dollar started to rise.

The AUD/USD pair by the end of the week came to around 0.7821, close to which is stabilized. This morning, investors slightly adjust the position, but the overall short-term trend does not change.

In addition to the purely technical correction, weakening commodity prices may contribute to a slight deviation in the AUD/USD pair. In particular, the focus is on the reduction in the "price tag" for iron ore. Australia is actively exporting this raw material, and by Friday the price per tonne of ore is less than $ 50.

All the interesting macroeconomic publications on Friday are focused in the afternoon. The US will publish statistics on the consumer price index for March. According to expectations, inflation added 0.3%, and if the actual data coincides with the forecasts, the dollar may receive some support. The question with inflation concerns the Fed. When the labour market looks relatively stable and on a number of parameters is kept at fifteen-year highs, with inflation everything is not as simple.

The official target for inflation in the US, as in other major economies, is 2%. For now it is still very far away.

For the AUD/USD pair the trading today is relevant in the range of 0.7785-0.7820.
 
RoboForex Analytical Department

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.