The Australian Dollar stopped falling. Overview for 08.02.2018

AUDUSD stopped falling and right now is trying to reach stability near January lows.

On Thursday morning, the Australian Dollar stopped weakening against the USD and started consolidating close to the lows it reached on January 10^th. The current quote for the instrument is 0.7823.

The statistics from Australia and China published in the morning couldn’t support the Aussie, but the fact that the American currency stabilized helped the AUD. As soon as the “greenback” stopped rising, all other traded currencies were able to fix close to the current levels.

The NAB Quarterly Business Confidence report showed that the indicator fell up to 6 points in the fourth quarter 2017 after being 8 points the quarter before. The decline is obvious, but according to the NAB, business conditions in the country are still considered as very positive. National companies believe that both short-term and long-term investments are reasonably good, but they also mention that it's getting more difficult to hire highly-qualified personnel.

One of the risks, in the NAB’s opinion, is salaries behavior: companies are afraid that they won’t’ be able to meet applicants’ steep demands to the salary. Apart from this, there are some concerns relating to quite mixed situation in the retail sales sector, which may indicate consumer caution.

As for the statistics from China, they were pretty well. The Export increased by 11.1% y/y in January, which is more than +10.9% y/y in the previous month. The Import skyrocketed by almost 37% y/y after adding just 4.5% y/y in December. The country’s Balance of Trade in January decreased and was $20.3B.

RoboForex Analytical Department