Australian dollar got stuck. Overview for 13.12.2022

The Australian dollar against the US colleague stopped at the quote of 0.6776.

On the whole, the Aussie gives no reasons for being nervous. Nothing new happened in terms of the Chinese abrupt slow-down, while the monetary policy of the RBA looks adequate to the surrounding conditions.

Morning statistics from Australia showed the CCI in December stop the decline by 6.9% and grow by 3.0%. This is a good signal based, among other things, on the seasonal factor.

The Australian PMI in November, on the other hand, got weaker, falling by 4 points from zero.

The balanced approach of the RBA based on productive control over inflation and smoothing out the overseas negative, support business quite efficiently. The effect will be well seen in the long run.

Currently, the Aussie remains quite strong against the USD thanks to the weakness of the latter and no bad news from China.