AUDUSD is actively rising due to the USD’s retreat.
The Australian Dollar boosted its growth against the falling USD. The current quote for the instrument is 0.7677.
The Aussie was pretty much supported by the decline of the American Dollar, which got under significant pressure after inflation reports were released.
The latest data from Australia showed that the Westpac Consumer Sentiment added 6.2% in April and reached 118.8 points after expanding by 2.6% in the previous month. It’s a very good signal showing stable rates of economic recovery after the coronavirus pandemic.
This week, Australia will offer a couple of additional reports in the economic calendar. On Thursday, the country will publish the Employment Change and the Unemployment Rate. Reports might be rather mixed but if they are positive, the Aussie will get additional support.
On Friday, China is scheduled to publish a lot of numbers, which may also influence the AUD behavior, such as the GDP, Retail Sales, and the Unemployment Rate. China has always been Australia’s key trade and economic partner, that’s why its statistics are very important.
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.