The statistics is dragging the Australian Dollar down. Overview for 25.10.2017

The AUD/USD pair fell to its 15 weeks’ lows after they reported on the inflation. 

The Australian Dollar is falling against the USD on Wednesday. The current quote for the instrument is 0.7709.

The statistics published in the morning showed that the Inflation Rate in Australian added only 0.6% q/q after expanding by 0.2% q/q in the second quarter and against the expected reading of +0.8% q/q. the difference between expectations and reality counted against the Aussie.

On YoY, the same indicator was 1.8% in the third quarter, which is less than in the second one (1.9%) and expectations (2.0%).

The components of the report say that the most significant offsetting price falls were vegetables (-10.9%), automotive fuel (-2.3%), and telecommunication equipment and services (-1.5%). On the other hand, international holiday travel and electricity accommodation rose (4.1% and 8.9% respectively), but had little influence on the indicator in general.

Apart from the statistics, the USD is supported by expectations of the new taxation reform in the USA and the next Chairman of the Federal Reserve. Investors’ attitude to the USD is good, because they believe the above-mentioned events are positive for the American economy.

RoboForex Analytical Department