The Australian Dollar found a reason for recovering. Overview for 17.05.2018

17.05.2018

On Thursday morning, AUDUSD is trading upwards; the Aussie is still trying to reach stability.

The Australian Dollar continues recovering against the USD on Thursday. The current quote for the instrument is 0.7524.

The statistics published today showed that the Unemployment Rate in Australia increased up to 5.6% in April, although no one expected the March reading of 5.5% to change. At the same time, the Employment Change added 22.6K this month after decreasing by 0.7K the month before. The expected reading was +19.8K.

It seems like the second report managed to neutralize the negative effect of the first one. The average range of the Unemployment Rate in Australia was from 5.5% to 5.7% last year, that’s why today’s reading was inside the long-term trend and didn’t worry anybody. The fact that new jobs appear in the country’s economy is surely positive, especially after the March reading, which was rather depressing.

One should also pay attention that the Participation Rate in April expanded up to 65.6% after being 65.5% in the previous month.

Meanwhile, the USD is getting stronger against other traded currencies on the global market. The reason is impressive statistics and high profitability of 10-Year Bonds.

 

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.

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