The Australian Dollar has been growing for five consecutive days. Overview for 13.01.2017

The AUD/USD pair has been moving to the upside for the entire week and is not going to stop.

Much as The Reserve Bank of Australia would like the national currency to be more restrained, right now the market conditions are supporting other major currencies in their growth against the USD, including the Australian Dollar. The Aussie has been growing for the fifth day in a row. The current quote for the instrument is 0.7492.

There wasn’t much significant statistics for the Aussie this morning. China reported its Balance of Trade in December, which was $40.8B after being $44.6B in the previous month and against expectations of $47.6B. During this week, China already published several other December reports, such as the CPI (added 2.1% y/y; expected at 2.3% y/y; was 2.2% y/y in November) and the PPI (improved by 5.5% y/y; expected at 4.6% y/y; was 3.3% y/y in November).

The next week will be rich in macroeconomic reports for Australia. The country is going to report on the Labor Market and the New Motor Vehicle Sales in December, the HIA New Home Sales in November, and the Westpac Consumer Sentiment in January.

In addition to that, at the end of the next week China will also publish several reports, which, in combination with the Australian ones, may add some volatility to the AUD/USD pair.  

RoboForex Analytical Department