The Australian Dollar is growing a little bit. Overview for 19.01.2017

On Thursday afternoon, the Australian Dollar is getting a bit more expensive despite some contradicting statistics.

The Australian Dollar is gaining some weight on Thursday against the USD despite quite mixed statistics on the employment. The current quote for the AUD/USD pair is 0.7523.

Statistical reports published today showed that the Unemployment Rate in the country in December 2016 increased from 5.7% in the previous month up to 5.8%, although it was expected to remain the same. At the same time, the Employment Change expanded by 13.5K in December (37.1K in the previous month, expected at 10.2K).

The mere fact that the Unemployment Rate reading is improving doesn’t mean much. The previous year was quite good for the Australian labor market, where the number of jobs had been growing over the last 9 months   

Other report, the Consumer Inflation Expectations, showed the increase up to 4.3% in January after being 3.4% in the previous month. According to the Melbourne university calculations, the Australian population is expecting the CPI to increase in the next 12 months, and this fact may indicate that the positive momentum in the country’s economy continues. It is assumed that the better these expectations, the more reasons for the local Central Bank to increase the interest rate.

However, in this particular case the RBA is very unlikely to put such issues into discussion.

RoboForex Analytical Department