The Australian Dollar rose thanks to the statistics. Overview for 19.10.2017

On Thursday, the AUD/USD pair is trading to the upside; investors are analyzing the statistics published this morning.

The Australian Dollar is growing against the USD on Thursday morning. The current quote for the instrument is 0.7872.

There were several statistical reports this morning, which are pretty important to the Aussie. Australia reported on the Employment Change, which increased by 19.8K in September after adding 53K and against the expected reading of 14.1K. The Unemployment Rate fell from 5.6% in August to 5.5% in September, although investors didn’t expect it to change at all.  

It means that the economic diversification process is going well – those, who were employed in the mining industry, successfully found new jobs in other sectors.

China also published a lot of numbers, and the Aussie reacted to them, as usual. The GDP Growth Rate increased by 6.8% y/y, just as expected, although the previous number was 6.9% y/y. The Industrial Production surprised with its growth rate as it increased by 6.6% y/y in September after adding 6.0% y/y the month before and against the expected reading of 6.4% y/y. The Chinese Retail Sales also improved by 10.3% y/y.

The Fixed Asset Investment (YTD) expanded by 7.5% y/y in September after adding 7.8% y/y in the previous month.

So, two reports, the Retail Sales and the Industrial Production, inspired the Aussie to grow. Both these indicators are very vital for the Australian economy, because China remains its biggest trade-and-economic partner.

RoboForex Analytical Department