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AUD/USD: the pair continues to grow _14/04/2016

Technical analysis and trading recommendations -

Positive labor market data in Australia today gave additional upward momentum to the Australian dollar. The level of employment increased by 26 100 persons (against the forecast of 20 000 and reduced to 700 people in February), while the unemployment rate decreased in March by 0.1% to 5.7% (vs. 5.9% and 5 , February 8%). And double acceleration Australian currency gained in cross-pair AUD / NZD after the previous index of business activity in manufacturing in March in New Zealand, near the trade and economic partner of Australia (54.7 vs. 55.9 in February). Australian dollar is probably the best way possible to resist against the US dollar, if not to take into account the safe haven yen. Australia's economy is developing steadily. Thus, the GDP grew by 3.0% in the 3rd quarter to the 4th quarter of 2015 - by 2.7%. Support for the Australian dollar also has an increase in oil prices and other commodities, as Australia's economy is export-oriented, first of all commodities, and mining and oil and gas sectors of the economy are key in all of the country's economy.

The interest rate in Australia - one of the highest among major currencies, while remaining unchanged in June 2015 at 2.0%. Another question - how much is needed high interest rate under the global trend of low interest rates.

From the beginning, the pair AUD / USD strengthened by 12%, reaching the end of March the new yearly highs near the 0.7720 mark. The high exchange rate is not favorable to exporters Australia and can prevent recovery of the economy. The RBA last week also did not change the interest rate, however, the bank once again tried to "persuade" the Australian dollar down.

From the news today, in addition to the Bank of England decision on interest rates in the UK, you should pay attention to the news outlet block on the United States, starting with the 12:30 (GMT). Among others - the consumer price index for March and the number of initial claims for benefits for unemployment last week.
When you exit the strong indicators of the US dollar strengthened in the market, including in the pair AUD / USD. At 14:00 are the representatives of the Fed, Dennis Lockhart and FOMC member Jerome Powell.

Thursday, 14 Apr, 2016 / 11:56

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