The Australian Dollar is regaining its positions. Overview for 05.04.2017

After two days of significant sales, the AUD/USD pair got stabilized on Wednesday.

In the middle of the week, the Australian Dollar found a reason to get stabilized and recover against the USD. The current quote for the instrument is 0.7583. the weekly low was at 0.7543.

Today, they published the AiG Performance of Services Index, which increased up to 51.7 points in March after being 49.0 points the month before. The components of the report say that the employment and sales parameters improved, which is pretty good.

The construction sector and the defense industry also improved. AiG says it’s because of low rates and the population’s activity level.

However, households are still very careful in spending. It may be connected with the pretty expensive Aussie. By the way, yesterday the RBA returned its comment about the overvalued national currency to the regulator’s statement after the latest meeting.

The future behavior of the Australian Dollar will mostly depend on the market’s attitude to the USD. This evening, the FOMC Meeting Minutes are expected. Moreover, there are some significant voting in the USA Congress.

RoboForex Analytical Department