The AUD/USD pair is consolidating inside the range and intending to move sideways.
On Monday morning, the Australian Dollar is strengthening a little bit against the USD. The current quote for the instrument is 0.7617.
The statistics that is interesting for the Aussie, the CB Leading Index in April, will be published later in the afternoon. In general, on Monday the macroeconomic calendar is pretty empty.
In his speech today, the RBA Governor, Mr. Lowe, emphasized that the Australian economy might grow faster. In addition to that, the global market situation improved and gives cause for optimism when it comes to trading relations.
According to Lowe’s estimations, both the employment market and the industrial sector may provide support. Debts and salaries growth are looking a bit weaker, as well as housing, where high prices remain a problem.
The regulator is sure that the country needs reforms, which may resist political risks. Shall we say that the goal, which was set, is pretty ambitious: no economic system in the world possesses such strategy, that’s why capital markets and treasury bonds are so sensitive to geopolitical changes and news. The time will show how Australia intends to implement this.
RoboForex Analytical Department