AUD: more chances for decline. Overview for 21.02.2023

The Australian dollar in the pair with its American colleague starts falling again and again. The current quote is 0.6894.

The morning statistics from Australia demonstrated that the prelim PMA in February grew to 50.1 points from 50.0 points previously. This growth is purely symbolic but it still makes the market optimistic. The prelim PMA in services in February grew to 49.2 points from 48.6. This is also a good signal.

The PMA in non-production might be growing for a month before it starts to fade away as summer in Australia is coming to an end.

The Aussie is seriously affected by the USD. While the greenback is string, finding support in the Fed’s monetary policy, things are unlikely to change substantially.