The Australian Dollar is unable to break away from the "bottom"
11.12.2014
The Australian dollar would be "glad" to grow, but is "trapped" from all sides. The morning statistics were good: the unemployment rate in Australia at the end of November 2014 remained at 6.3%, in line with expectations. The number of jobs added another 42.7 thousand, and this figure is much better than expected.
According to the comments of the RBA board member Mr. Edwards, in 2015 in Australia the monetary policy remains soft. The economic growth is not quick, and it will enable the rate of unemployment to grow. This is a minus, but it can be adjusted later.
With all of this the RBA has "space" to reduce the interest rate if necessary. To date, there is no compelling evidence that the situation in the Australian economy is getting worse.
And then AUD received another "stab in the back". Edwards mentioned that the Australian dollar is now approaching the correct level, but is waiting for further depreciation of the Aussie - it would have benefited the national economy.
So, it seems, the chances of steady growth in the AUD/USD are not too big. At least, that is what they say in the RAB, and would like to see such a scenario in the local government.
RoboForex Analytical Department
According to the comments of the RBA board member Mr. Edwards, in 2015 in Australia the monetary policy remains soft. The economic growth is not quick, and it will enable the rate of unemployment to grow. This is a minus, but it can be adjusted later.
With all of this the RBA has "space" to reduce the interest rate if necessary. To date, there is no compelling evidence that the situation in the Australian economy is getting worse.
And then AUD received another "stab in the back". Edwards mentioned that the Australian dollar is now approaching the correct level, but is waiting for further depreciation of the Aussie - it would have benefited the national economy.
So, it seems, the chances of steady growth in the AUD/USD are not too big. At least, that is what they say in the RAB, and would like to see such a scenario in the local government.
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.