The Australian dollar is stable
03.06.2015
The AUD/USD pair is resting after yesterday's jump up, but sellers are not in a hurry to build positions.
The Australian dollar has stabilized. After yesterday's increase, the instrument is in a lull. It seems that this is not the end of activity, but the pause can not hurt.
Australia's GDP in the first quarter of 2015 increased by 0.9% q/q against the forecast of growth of 0.7% q/q. The data for the fourth quarter of last year remained the same and TMI are not subjected to revision. Then, the Australian economy added 0.5%.
As a result, in January-March 2015 Australia's GDP expanded by 2.3% y/y while expecting the growth of 2.1% y/y.
This is a positive moment, as the economic system of the country at the beginning of the year showed the strongest increase for the last 12 months. Statistics released earlier showed that Australian consumers have become more active in spending. This, apparently, has become one of the pillars for growth. Moreover, in recent days the authorities of Australia talked about the increase of exports of raw materials. This driver has also supported economic growth.
However, there is no guarantee that the GDP in the second quarter will show such a confident increase. Although such expectations have a reason: raw material prices have stabilized in the last month, and that should reduce fiscal risks.
RoboForex Analytical Department
The Australian dollar has stabilized. After yesterday's increase, the instrument is in a lull. It seems that this is not the end of activity, but the pause can not hurt.
Australia's GDP in the first quarter of 2015 increased by 0.9% q/q against the forecast of growth of 0.7% q/q. The data for the fourth quarter of last year remained the same and TMI are not subjected to revision. Then, the Australian economy added 0.5%.
As a result, in January-March 2015 Australia's GDP expanded by 2.3% y/y while expecting the growth of 2.1% y/y.
This is a positive moment, as the economic system of the country at the beginning of the year showed the strongest increase for the last 12 months. Statistics released earlier showed that Australian consumers have become more active in spending. This, apparently, has become one of the pillars for growth. Moreover, in recent days the authorities of Australia talked about the increase of exports of raw materials. This driver has also supported economic growth.
However, there is no guarantee that the GDP in the second quarter will show such a confident increase. Although such expectations have a reason: raw material prices have stabilized in the last month, and that should reduce fiscal risks.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.