The Australian Dollar is slightly falling. Overview for 30.03.2017
The AUD/USD pair started falling a little bit on Thursday after the market sentiments for the American currency changed.
On Thursday afternoon, the Australian Dollar is retreating against the USD. The current quote for the instrument is 0.7654.
The statistics published today showed that the HIA New Home Sales in Australia in February, added 0.2% m/m after losing 2.2% m/m the month before. As a result, the correction towards the disastrous reading of the beginning of the year turned out to be insignificant. However, the fact that the indicator moved to the positive area is good: when consumers spend their money not only on real estate, but on reparation, furniture, and accessories as well, they create demand for many other related industries.
Concurrently, investors are analyzing possible future result of the next meeting of the Reserve Bank of Australia, which is set to take place on April 4th. Opinions about the RBA’s decision concerning the rate are rather different, but four largest banks of the country think that the rate will remain unchanged.
However, so far there are no reasons for the Aussie to continue falling: for this, there have to be additional distress calls from the employment market or core inflation readings. At the same time, the real estate market situation doesn’t imply the rate to be decreased.
In view of this, the RBA rate may probably remain the same this year. And the RBA’s conservative approach may keep it unchanged the next year as well, if necessary.
RoboForex Analytical Department
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.