The Australian Dollar started April with decline. Overview for 03.04.2017

The AUD/USD pair is trading to the downside on Monday after several rather mixed statistical reports were published.

At the beginning of new week and month, the Australian Dollar is retreating against the USD. The current quote for the instrument is 0.7602.

Several macroeconomic reports published by Australia this morning were mostly disappointing. China is off the market due to bank holidays from April 2^nd to 4^th, so there is nothing really significant to beat today’s disappointment.

The AIG Manufacturing Index in March fell up to 57.5 points after being 59.3 points earlier. The indicator has been above the psychologically-crucial level of 50 points for a long time and growing over last six months, so, probably now it’s time for a correction.

The Retail Sales in February lost 0.1% m/m after expanding by 0.4% m/m in January and against expectations of 0.3% m/m. This reading is seasonally adjusted, that’s why it looks pretty real. The country’s population was buying foods and used services of the tertiary sector. However, the demand for household goods decreased simultaneously with sales in department store chains. People’s interest in clothes and shoes didn’t change.

The Building Approvals in Australia in February skyrocketed by 8.3% m/m after adding 2.2% in the previous month. The expected reading implied a correction to 1.4% m/m.  

RoboForex Analytical Department