The Australian dollar is pushing up
23.07.2014
The Australian dollar is streaming up - yesterday's upward momentum continued today, when good statistics on inflation in the second quarter in Australia came out. Statistical data showed that the consumer price index rose by 0.5% q/q and by 3.0% y/y. The forecast predicted growth of 0.6% q/q.
Core inflation in Australia, in turn, grew last quarter by 0.8%. This data is "cleaned" from volatility and does not account for changes in prices for food and energy.
Purchasing activity in Australia remains at decent marks, despite some deterioration in the labour market. However, it is thought that this is temporary, and the segment of employment will bounce back sooner than expected. The matter is in the process of economic restructuring, when the "centre of gravity" is transferred from the mining sector to domestic demand. The government contributes to the creation of jobs, and it shows.
It is not excluded that the AUD/USD will suspend its growth at around 0.9455. Further movement of the pair will directly depend on the published statistics and news from China.
RoboForex Analytical Department
Core inflation in Australia, in turn, grew last quarter by 0.8%. This data is "cleaned" from volatility and does not account for changes in prices for food and energy.
Purchasing activity in Australia remains at decent marks, despite some deterioration in the labour market. However, it is thought that this is temporary, and the segment of employment will bounce back sooner than expected. The matter is in the process of economic restructuring, when the "centre of gravity" is transferred from the mining sector to domestic demand. The government contributes to the creation of jobs, and it shows.
It is not excluded that the AUD/USD will suspend its growth at around 0.9455. Further movement of the pair will directly depend on the published statistics and news from China.
RoboForex Analytical Department
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.