Predictable "Australian"


Yesterday, the Australian dollar was down to 15 points under pressure from the US dollar. The iron ore (0.55%), copper (1.45%) and a number of other important goods for the Australian economy. While oil was declined by an average of 0.4% and gold fell by 0.35%.

Completed construction work in Australia in the first quarter showed an increase of 0.2% only against expectations of 1.1%. The positive indicator was the index of leading economic indicators from MI for March, which showed an increase of 0.2% against -0.1% a month earlier.

Today, an excellent data from New Zealand was released which indirectly help maintain the "Australian" currency. The trade balance of New Zealand in April was $ 263 million against the forecast of 200 million-156 million in March. But today, the United States expects moderately positive data, in particular, the number of applications for unemployment benefits expected at 220 thousand against 222 thousand earlier, and the house price index for March is expected to increase by 0.5%. Raw indices visually showed a downward turn (clearly expressed in terms of gas, which is also an important export component of Australia). We are expecting for the price's return to 0.7440.


* The presented market analysis is informative and does not constitute a guide to the transaction.

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