AUDUSD is falling on Tuesday; investors are clearly ready to intensify this decline.
The Australian Dollar is retreating against the USD on Tuesday morning. In general, the Aussie is saving strengths and looking as if it is ready to plummet as soon as there are reasons for that. The current quote for the instrument is 0.7619.
The NAB Business Confidence showed 15 points in March after being 18 points (a revised reading) the month before. The Business Conditions rose by 8 points to a record high of 25 points, the best over the last 17 months. At the same time, the employment index went from 9 to 16 points. According to the comments from NAB, there is momentum to increase the number of jobs and investments.
The Australian labor market will be discussed later this week. On Thursday, Australia is scheduled to report on employment. The Unemployment Rate is expected to go from 5.8% in February to 5.7% in March. The Employment Change might show 35K and if so, March may become the sixth straight month of the indicator improvement. It might be interesting to dig deeper in the report and find out the difference between full-time and part-time employment as it may help to understand how fast Australia will create enough jobs.
Improvement of employment and labor market conditions will describe the recovery process in the Australian economy. However, even in this case, one shouldn’t expect the Australian regulator to revise its monetary policy: the benchmark rate will probably remain low.
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.