AUD looks depressed. Overview for 16.02.2023

The Australian dollar in the pair with its US counterpart is under pressure. The current quote is 0.6915.

Trying to recover, Aussie gets under more and more influence of sellers.

The morning Australian statistics have shown that the unemployment rate in January grew to 3.7% from 3.5% previously. At the same time, the number of workplaces dropped by 11.5 thousand after a decline by 20.0 thousand in December. The forecast had suggested growth by 19.8 thousand.

This decline in the employment sector is unlikely to be seasonal. Regardless of all the effort that Australia puts in the development of the market, these might be signals for structural changes.

The manager of the Reserve Bank of Australia Philip Lowe announced this morning that they would be working on further decline of the CPI. He sees the current RBA policy as neutral and restrictive. However, there are risks that the regulator has not done enough for increasing the rate. The crediting price has not reached its peak.

For Aussie, this could be a good signal if not for the pressure of the USD.