Mixed statistics helped the Australian Dollar to rise. Overview for 19.04.2018

19.04.2018

On Thursday morning, AUDUSD is growing and trying to fix close to the highs it reached in March.

The Australian Dollar is rising against the USD on Thursday morning. The current quote for the instrument is 0.7803.

Earlier, Australia published several macroeconomic reports, which turned out to be rather mixed. Nevertheless, investors continue buying the Aussie – probably, they believe that there was nothing really critical for the Australian currency.

The Unemployment Rate in March remained at 5.5%, the same as expected. However, other numbers were an unpleasant surprise: the Employment Change added only 4.9K in March against the expected reading of +20.3K. In February, the indicator lost 6.3K (revised number) due to the season, but this month it was expected to recover significantly.

The components of the report show that the Full Time Employment Change was -19.9K, thus neutralizing the Part Time Employment Change, which was +24.8K. Despite this, it turns out that the labor market in the country has slowed down for the first time since autumn of 2016. It’s not the best signal for the Aussie and the RBA.

The NAB Quarterly Business Confidence remained at 7 points last quarter, the same as in the fourth quarter 2017. The Business conditions, in its turn, improved up to 17 Points (+2 points). In the comments, the NAB said that at the end of last year business conditions got worse a bit, but they were okay at the moment. The Retail Sales is still a little bit behind, but thanks to online sales and increased number of vendors the trend may improve. 

 

RoboForex Analytical Department

 

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