The AUD/USD pair is retreating after yesterday’s growth; the market is analyzing the news.
After skyrocketing yesterday, the Australian Dollar is being corrected against the USD. The current quote for the instrument is 0.7683.
Quick growth of the AUD yesterday evening was cause by the USA Fed’s decisions, which were quite expected, thus forcing the market players to close numerous long positions in USD in favor of other currencies. Today, investors are shaping their thoughts and emotions and buying out some of them.
The statistics published by Australia this morning turned out to be rather contradicting. The Unemployment Rate increased from 5.7% in January to 5.9% in February. The Employment Change decreased significantly: the indicator was -6.4K after adding 13.5K the month before and against expectations of +16.3K.
So, the employment market is once again providing signals, which are pretty far from being positive. The Australian economy had some problems with the loss of jobs in the past due to the disinvestment program of the mining industry. Later, the situation recovered, but seems to get worse again soon. The Westpac agency, which monitors the labor market, said that the employment market situation was worse than expected.
Apart from this, the Consumer Inflation Expectations in the country in March decreased from 4.1% to 4.0%. It means that in the next 12 months the Australian population is going to expect the CPI to increase slower than they expected before. The Australians are refusing to make some purchases increasingly frequently, because they think that later the price may fall.
RoboForex Analytical Department