The Australian Dollar is falling quickly. Overview for 03.05.2017

On Wednesday, the AUD/USD pair is falling significantly influenced by the quick growth of the New Zealand Dollar.

The Australian Dollar is getting weaker fast against the USD on Wednesday. As a matter of fact, there was nothing really negative happening. With markets in Japan and Hong Kong being closed along with some strong statistics on the employment market published by New Zealand, the NZD started growing quickly, including the AUD/NZD pair. This factor influenced the AUD/USD pair as well. The current quote for the instrument is 0.7483.

Another meeting of the Reserve Bank of Australia was over yesterday. The rate remained at 1.5% and other parameters of the regulator’s monetary policy also didn’t change, just as expected. In the comments, the RBA said that it expected the core inflation to grow slowly and noticed that the leading indicators for the country’s economy remained positive.

According to the Australian Central Bank, the labor market still deserves a lot of attention. Unemployment numbers aren’t increasing, but the employment is rising. For a while, salaries in the country will increase not as fast as people want, but later the market is expected to solve this problem.

Considering that this evening the USA Fed meeting, the results of will may provide support to the USD, will be over, the Aussie is expected to have even more “stress” today. However, we should note that today’s reactions are local and short-term. There will be no press conference of the Fed Governor; expectations relating to the rate change equal to 4.8% in May and 71.0% in June. In general, the situation for the Aussie is pretty neutral. The AUD/USD pair is expected to get stabilized after the Fed publishes the meeting’s minutes.  

RoboForex Analytical Department