The Australian dollar strives to strengthen
10.06.2014
The AUD/USD pair is traded upward, having received support in the form of morning statistics and positive investor sentiment.
The Australian dollar feels confident and seeks growth - support for the pair comes from almost all sides simultaneously.
Firstly, the Australian statistics. According to published data, the index of current business conditions in the country in May rose to 7 points against the value of 6 points in April. The indicator shows the dynamics of economic development and is generally rather informative.
Moreover, statistics on investment in the real estate sector showed strengthening to 2.3% from 0.8% a month earlier.
Secondly, China. Statistical data for May showed an improvement in the producer price index, which amounted to 1.4% y/y with the forecast of -1.5% y/y. The release for inflation could have been more confident with a gain of 1.4% y/y and the expectation was 2.4%.
The mood of the investors in the currency market is assessed as moderately positive, allowing the AUD/USD pair to maintain a growth momentum to the region of 0.94.
RoboForex Analytical Department
The Australian dollar feels confident and seeks growth - support for the pair comes from almost all sides simultaneously.
Firstly, the Australian statistics. According to published data, the index of current business conditions in the country in May rose to 7 points against the value of 6 points in April. The indicator shows the dynamics of economic development and is generally rather informative.
Moreover, statistics on investment in the real estate sector showed strengthening to 2.3% from 0.8% a month earlier.
Secondly, China. Statistical data for May showed an improvement in the producer price index, which amounted to 1.4% y/y with the forecast of -1.5% y/y. The release for inflation could have been more confident with a gain of 1.4% y/y and the expectation was 2.4%.
The mood of the investors in the currency market is assessed as moderately positive, allowing the AUD/USD pair to maintain a growth momentum to the region of 0.94.
RoboForex Analytical Department
Attention!
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.