The Australian Dollar is ready to recover. Overview for 14.09.2017

On Thursday, the AUD/USD pair is trading upwards after completing the correction.

The Australian Dollar got stabilized and started recovering against the USD after several trading sessions of sales this week. The current quote for the instrument is 0.8004.

There was a lot of important statistics for the Aussie this morning. At first, Australia reported on the employment market in September. The Unemployment Rate wasn’t expected to change, and it did remain the same as in July, 5.6%. At the same time, the Employment Change expanded by 54.2K after adding 29.3K and against the expected reading of 17.5K.

We remind you that at the moment the Australian economy is in transition from the resource-based model to a diversified one. The population, which was employed in the mining industry, was successfully placed in jobs in other sectors, that’s why the employment market seems pretty stable.

China also published several reports. The Industrial Production expanded by 6.0% y/y in August after adding 6.4% y/y the month before and against the expected reading of 6/6% y/y. The Fixed Asset Investment (YTD) increased only by 7.8% y/y in August after adding 8.3% y/y in the previous months. The Foreign Direct Investment (YTD) continued to decrease.

The Retail Sales in China added 10.1% y/y in August after expanding by 10.4% y/y in July.

Such mixed statistics from China destroyed the bullish impulse in the AUD/USD pair. If there are no disappointing numbers until the end of today’s trading session, the Aussie may try to get stabilized close to the current levels in order to continue its growth.

RoboForex Analytical Department