Cookies help us deliver our services. By using our services, you agree to our use of cookies.
Learn more Got it
Dakar 2017
Roboforex is an official sponsor
of "Starikovich-Heskes Team"
at the Dakar 2017
Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Australian Dollar is being pulled to the “bottom”. Overview for 17.11.2016
Ask a question
Did not find the information you need? Ask your questions and get answers online!
Enter chat
Or enter your phone number in the form below and we will call you right away.
Call back




The Australian Dollar is being pulled to the “bottom”. Overview for 17.11.2016

17.11.2016
The AUD/USD pair continues falling on Thursday; the Aussie reached two months’ low.

The Australian Dollar is still moving to the downside against the USD. The current quote for the instrument is 0.7470. It’s a bit higher than yesterday, when the pair updated September’s low.
The Australian statistics published in the morning was rather neutral. The Unemployment rate in October remained unchanged, 5.6%. At the same time, the Participation Rate in the country decreased up to 64.4% against 64.5% the month before and the same expectations.

The components of the report weren’t as neutral as the main number. The Employment Change added just 9.8 thousand against expectations of 20.0 thousand. And even worse was the fact that September number of -9.8 thousand was revised to -29.0 thousand.

The Part Time Employment in October reduced by 31.7 thousand after adding 45.3 thousand in September. The Full Time Employment added 41.5 thousand after losing 73.0 thousand the month before. However, if we disregard this quick migration from part time to full time, the overall situation on the Australian employment market looks rather neutral without serious declines.

Right now, the market isn’t moving against the Aussie, it is moving in favor of the USD. On Thursday evening, Janet Yellen, the head of the Fed, will report to the Congress. This will be her first speech after election of Donald Trump as the 45th American president. However, this is unlikely to change anything in her speech essentially, but in any case, the report itself may be interesting.
 
RoboForex Analytical Department

Dear reader!

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.

Attention!

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.