The Australian dollar sharply weakened
02.06.2014
This Monday the AUD/USD pair is trading down on the background of weak statistics and the wait for a new meeting of the Reserve Bank of Australia.
The Australian dollar on Monday failed to compensate for its weak data with the decent Chinese statistics and fell sharply. Well, the currency has a fundamental reason for this. Published statistical data this morning showed that the number of building permits in Australia in April fell by 1.1% against the March rise of 20.9%.This figure includes the data on corporate investment.
Observers say that the pair weakened due to the negative impact of the indicators, which have collective influence on the Australian economy. The Australian dollar was strongly upset by these findings.
Tomorrow, on Tuesday, a meeting of the Reserve Bank of Australia will be held, and while the prediction is that the rate will remain neutral, the same 2.50% per annum, the views on the tone of the comments of the head of the RBA vary widely.
It is not excluded that the AUD/USD will fall to 0.9225, last week's lows.
RoboForex Analytical Department
The Australian dollar on Monday failed to compensate for its weak data with the decent Chinese statistics and fell sharply. Well, the currency has a fundamental reason for this. Published statistical data this morning showed that the number of building permits in Australia in April fell by 1.1% against the March rise of 20.9%.This figure includes the data on corporate investment.
Observers say that the pair weakened due to the negative impact of the indicators, which have collective influence on the Australian economy. The Australian dollar was strongly upset by these findings.
Tomorrow, on Tuesday, a meeting of the Reserve Bank of Australia will be held, and while the prediction is that the rate will remain neutral, the same 2.50% per annum, the views on the tone of the comments of the head of the RBA vary widely.
It is not excluded that the AUD/USD will fall to 0.9225, last week's lows.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.