The Australian Dollar is under pressure Overview for 01.02.2018
AUD/USD is falling faster based on the mixed statistics from Australia.
The Australian Dollar started falling faster against the USD on Thursday. The current quote for the instrument is 0.8016.
This morning, Australia published several macroeconomic reports, which raised more questions than gave answers. The AIG Manufacturing Index in January increased up to 58.7 points after being 56.2 points the month before, which is a pretty significant improvement. The indicator has been expanding for 15 months in a row, which is the longest streak over last 13 years.
The the report details show that all seven components, from employment to manufacturing, expanded last month. This trend has been seen since November 2017. It’s interesting to notice that the numbers of manufacturing and sales are growing much faster due to the significant increase of new orders. This report was surely positive for the Aussie, however the one that followed changed the outlook.
The Building Permits in Australia plummeted in December by 20.0% m/m. Although it was expected to decrease only by 7.9% m/m. In November, the indicator added 12.6% m/m. On YoY, it lost 5.5% after expanding by 18.5% the month before. The major “contribution” was made by private dwellings (-39.2%) along with residential construction prices (-25.0%).
The statistics are not clear due to significant decreasing.
RoboForex Analytical Department
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