AUDUSD has been falling for the second trading session in a row; the statistics from Australia and behavior of the USD prevent the pair from reaching stability.
The Australian Dollar has been retreating against the USD for the second consecutive trading session. The current quote for the instrument is 0.7855.
The statistics published by Australia today weren’t positive. The Westpac Leading Index lost 0.2% m/m in December after adding the same number the month before. The Westpac agency noted that the Index was moving a bit above the trend line, although there appeared more negative issues.
For example, the real estate sector makes a lot of noise. This is the component of the Index which is “dragging down” the entire indicator. Eventually, it’s all about low spending of households, which are quite conservative when it comes to spending money, and spending of other consumers, who aren’t completely sure of the future economic outlook.
All this resulted in decline of the sub-index, which shows sentiments for the next 3 and 9 months, as it fell from 1.39 points earlier to 0.73 points this month.
However, macroeconomic statistics is just one of several factors that are putting pressure on the Aussie right now. The major problem is that the American currency recovered and got stronger. Later in the evening, the US Federal Reserve will publish its latest Meeting Minutes. Investors are expecting hints at a faster increase of the key rate this year that it was thought before. In this light, the American currency is feeling quite well.
RoboForex Analytical Department