The AUD/USD pair is recovering on Friday after two straight “losing” trading sessions.
The Australian Dollar is regaining its positions against the USD on Friday afternoon. Before that, the pair moved close to its three weeks’ lows. The current quote for the instrument is 0.7388.
The statistics published I the morning showed that the New Home Sales increased by 0.8% m/m in April after losing 1.1% m/m the month before. The report, which is published by the Housing Industry Association, is rather informative and describes the current conditions in the residential real estate.
According to the HIA estimations, the overall situation remains quite uncertain: sales volume is decreasing and moving away from its recent highs, and today’s numbers can’t be considered as the end of the current tendency. Nevertheless, the report softened up an effect of changes relating to investments into housing construction introduced by the Australian government.
The major contribution to the sales growth was made by particular regions, such as Victoria, South Australia, and New South Wales.
However, one should expect the Aussie to recover very quickly: such statistics has a weak effect, because the market is still following the USD behavior and scandals concerning Donald Trump.
RoboForex Analytical Department