The Australian Dollar moved to the levels it reached in September. Overview for 16.01.2018

On Tuesday, the AUD/USD pair continues rising; buyers are supported by the statistics.

The Australian Dollar is still growing against the USD on Tuesday morning. The current quote for the instrument is 0.7965.  

Over the last week, the Aussie added almost 0.7% against the USD mostly thanks to the American currency weakness and anti-Dollar attitude on the market. Another reason was China’s announcements about reducing its investments into American bonds. China is one of the biggest holders of the US bonds, so such words affected the USD heavily. However, right now such risks are mostly theoretical, because China uses American bonds for creating a sustainable portfolio and requires some low-risk assets.

Today’s statistics from Australia showed that the New Motor Vehicle Sales expanded by 4.5% m/m in December after adding 0.2% m/m the month before. The report is already seasonally adjusted, which makes it even more informative.

It is thought that the more cars are sold, the better the “financial mood” of consumers is, that’s why the indicator improvement is a very good sign for the Australian Dollar.

This week, there will be enough statistics from Australia itself along with several more reports from China. As a result, we may assume that major fluctuations for the Aussie are still ahead.  

RoboForex Analytical Department