The Australian Dollar continues rising. Overview for 02.11.2018

On Friday, AUDUSD is keeping its positive momentum; the statistics were rather confusing.

The Australian Dollar is trading upwards against the USD on Friday afternoon. The current quote for the instrument is 0.7234. The Aussie has been actively growing for the second trading session in a row.

The statistics published today showed that the Retail Sales added only 0.2% m/m in September, which is worse than both the previous and expected numbers of +0.3% m/m. Overall, the indicator did continue rising, but slower than before.

The Producer Price Index in the third quarter expanded by 0.8% q/q in September after adding 0.3% q/q the month before and against the expected reading of +0.2% q/q. As a rule, this indicator is considered as some kind of inflation parameter in the base material sectors, so the higher the reading, the better for the Aussie.

The components of the PPI report show that the indicator was mainly driven by prices received for heavy and civil engineering construction (+1.0%), petroleum refining and petroleum fuel manufacturing (+5.2%), and computer and electronic equipment manufacturing (+2.7%). On the other hand, the rise was offset by decline in the prices received for cleaning compound and toiletry preparation manufacturing (-3.1%).

Apart from the statistics, the Aussie is recovering due to the current correction in the USD.