The Australian Dollar s back to its March highs. Overview for 29.06.2017

While the market’s attitude is not if favor of the USD, the Australian Dollar has been strengthening for the fourth consecutive trading session.

On Thursday morning, the AUD/USD pair continues rising. The current quote for the instrument is 0.7656.

Today, Australia reported on the HIA New Home Sales in May. The indicator expanded by 1.1% m/m after adding 0.8% m/m in April. In its comments, the HIA said that the index had been growing for the second month in a row so, one may talk of new positive tendency.

The major contribution to the statistics was made by New South Wales and Queensland, but the numbers in Victoria fell significantly. Only detached houses are in demand.

Statistics is good, but major support to the Aussie is coming from the market game against the USD. The attitude to the American currency is getting worse constantly, thus allowing other currencies to rise.  

RoboForex Analytical Department