The Australian Dollar continues falling. Overview for 09.02.2018
AUDUSD is still under pressure from bears; the RBA report couldn’t prevent the Australian currency from falling.
The Australian Dollar continues trading to the downside against the USD. The current quote for the instrument is 0.7777.
The RBA Monetary Policy Statement report, which was published earlier today, said that the global business environment was really improving during 2017 and would continue getting better in 2018 as well. Different industrial production sectors improved the most. According to the RBA estimations, the Chinese economy was also slowly growing and business conditions in China remained positive.
As for peculiarities relating to the Australian GDP, the regulator paid special attention to the labor market strength. There might be some risks in the Export parameters. GDP expectations for 2018 and 2019 were a bit higher than 3%.
Inflation expectation remained the same. The inflation is rather low and, according to the RBA, may continue to be this way for a while. One of the possible reasons is increasing competition between retailers: the higher their competition, the stringer the deflation in non-food goods.
Overall, the report turned out to be quite neutral and almost didn’t change in comparison with the previous one published in November last year. As a result, the Aussie remained under pressure from the USD.
RoboForex Analytical Department
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