Australian Dollar retreats. Overview on 20.07.2016
20.07.2016
AUD/USD pair is traded with descending for the second day, weak statistic adds reasons to sell. Current quotation in AUD/USD - 0.7477.
Publicized today statistic has shown that index of leading indicators in Australia from Westpac in May of current year is reduced on 0.20% m/m against growth on 0.21% in April. Indicator accounts nine basic parameters, including such opposed terms as stocks price and volume of requests for phone number. Six month medial indicator's line strengthened up to -0.14% from -0.35% earlier.
Despite of some improvements in pace of indicator's surplus, it is still less than zero that indicates, as minimum, on reserved behavior of comsumers and producers. But forecast of Westpac for 2017 supposes that later index will be stand around 3% level.
Publicized before Chinese statistic was estimated "positively" by Australian Dollar. Today main events are European - tomorrow is the next meeting of ECB, that is waited for comments on broadening of external risks. Investors choose US Dollar "just in case".
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.