The Australian Dollar came under sales. Overview for 17.09.2019
On Tuesday afternoon, AUDUSD is moving downwards; market sentiment is in favor of the USD.
The Australian Dollar is getting weaker against the USD on Tuesday afternoon. The current quote for the instrument is 0.6841.
This morning, Australia reported on the HPI for the second quarter of 2019. The indicator lost 0.7% q/q, which was better than the expected reading of -1.0% q/q. By the way, in the first quarter of 2019, the indicator plummeted by 3.0% q/q.
On YoY, the indicator decreased by 7.4%, the same as the quarter before.
The decline of the house prices indicates a reduced demand: by decreasing prices, real estate sellers try to attract new customers. However, at the time of economic uncertainty, it doesn’t work as it should.
Most likely, this decline may go on as long as trade wars between the USA and China continue. China is known to be Australia’s key trade and economic partner, that’s why everything that happens there may be crucial for the Australian economy.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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