The Australian Dollar continues recovering. Overview for 04.04.2018
On Wednesday morning, AUDUSD is trading upwards; the Aussie was supported by the statistics.
The Australian Dollar continues recovering against the USD in the middle of the week. The current quote for the instrument is 0.7710.
The statistics published in the morning showed that the Retail Sales added 0.6% m/m in February after expanding by 0.2% m/m the month before and against the expected reading of +0.3% m/m. The components of the report show that the biggest contribution was made by clothing, footwear & personal accessories, department stores, household goods, food retailing and cafes, restaurants & takeaway food. The most active areas were New South Wales and Victoria.
Another report, the Building Permits, lost 6.2% m/m in February. However, such decline was expected, because the indicator skyrocketed in January by 17.2% m/m, that’s why it was rather logical to expect the number to decrease.
It’s quite interesting that for private houses the indicator rose by 1.9%, which means that, unlike the corporate sector, the private one is doing fine. In general, the existing trend continues.
Overall, the Australian Dollar has a good reason to grow in the short-term – the statistics.
RoboMarkets Analytical Department
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