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AUD/USD: the pair storms level 0.7500 _21/06/2016

Technical analysis and trading recommendations -https://fxpcm.com/en/fx/audusd-pair-storms-level-07500-21062016


The Australian dollar has received support during the Asian session on Tuesday on positive results of recent surveys of the UK population on the country's membership in the European Union.

The index of the stock market the Australian S & P / ASX200 during the Asian session, rose by 0.6%, and the pair AUD / USD - almost 30 points. In the European session the pair continued to strengthen.

Shares of supporters and opponents of the UK branch of the moment are almost equal, and any advantage in favor of voting for an exit as the negative impact on the pound, the euro, and the entire global financial markets up to the emergence of a new global financial and economic crisis.

Two polls conducted over the weekend, showed a slight predominance of British supporters of conservation in the EU, and the results of surveys carried out on Monday, were contradictory. A survey conducted by the YouGov, Sunday gave the opposite result.

According to some economists, if the UK remains in the EU, the Australian currency may grow by 1% -2%, otherwise it may fall by 3%.

In May, the RBA first time since June 2015 has lowered interest rates. Now the key interest rate at a record low level of 1.75%, and market participants expect that the year-end rate will be lowered once more.

Despite the fact that Australia's economy grew at the fastest pace in more than three years, in the 1st quarter of this year was marked by deflation. According to the published today the protocol of the last RBA meeting on 7 June, GDP growth in the 1st quarter turned out to be about 0.5 percentage points higher than expected, however, other indicators remain weak. Employment growth slowed, while inflation is expected to remain low.

If inflation does not reach the target level of 2-3%, it can serve as a basis for further reduction in interest rates, and this will put pressure on the Australian dollar. Surrounding the RBA meeting on this issue will take place at the beginning of July and August.

Tuesday, 21 Jun, 2016 / 10:33

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Source : http://fxpcm.com/en/fx/audusd-pair-storms-level-07500-21062016

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