The Australian Dollar stopped falling. Overview for 24.04.2018
After being sold in the morning, AUDUSD is reaching stability, but the Aussie is still under pressure.
On Tuesday evening, the Australian Dollar is trading a little bit to the upside against the USD and trying to reach stability after morning’s decline. The current quote for the instrument is 0.7607.
It’s a state holiday today in Australia, but earlier in the morning they published the inflation report, which made investors continue selling the Aussie. In the first quarter 2018, the Consumer Price Index increased up to only 0.4% q/q after being 0.6% q/q the quarter before and against the expected reading of 0.5% q/q. On YoY, the indicator remained at 1.9%, the same as in the fourth quarter 2017.
The components of the report show that the major contribution was made by education, fuel, and chemist products. On the other hand, transport, furnishing, household equipment and services moved downwards.
In the comments to the inflation report, it was said that in some Australian cities and towns the inflation might be higher than 2%, but this indicator was too volatile and might change its direction very quickly. Above everything else, in some cases the inflation grows faster than the RBA expects it to.
RoboMarkets Analytical Department
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