On Wednesday afternoon, the AUD/USD pair is trading to the downside after the country published rather complicated statistics.
The Australian Dollar is being sold in the middle of the week. The current quote for the AUD/USD pair is 0.7461.
This morning, they published the Building Permits in Australia in October. The indicator plummeted by 12.6% m/m after losing 9.3% m/m (revised number) in September and against the expected reading of 1.5% m/m. the indicator has been falling for the third month in a row, which eventually might result in decrease in consumer demand.
However, the Private Sector Credit expanded by 0.5% m/m in September after adding 0.4% m/m in August. The indicator shows whether consumers can afford large expenses. So far, it’s quite neutral.
Due to such mixed statistical reports, investors responded to those, which were worse, because it had more “ins and outs”. On top of that, the market’s attention is drawn to the commodity market situation, that’s why investors are not ready to buy until they understand all prospects.
Technically, right now the Australian Dollar against the USD is moving in the middle of the mid-term trading channel.
RoboForex Analytical Department
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