AUD has found a foothold. Overview for 13.04.2023
The Australian dollar against the US dollar is securing the ascending impulse. The current quote is 0.6700.
The morning statistics from Australia demonstrated that the unemployment rate in February remained at 3.5%, though it had been expected to rise to 3.6%. The number of workplaces increased by 53.0 thousand after growing by 63.3 thousand earlier. The data came out better than the forecast growth by 20.8 thousand.
Bearing in mind the seasonal factor, the labour market report looks rather confident.
Most probably, the CPI in Australia has reached its peak. The Reserve Bank of Australia mentioned it previously, and now the main banks over the country are saying the same. Average inflation in the first quarter might have reached 6.8% against 6.9% in the fourth quarter of 2022. Meanwhile, the official statistics demonstrate that in Q4 2022 the CPI in the country amounted to 7.8% y/y.
The RBA has already paused lifting the interest rate in order to contemplate the situation. If the releases scheduled for 26 April confirm the stabilisation of prices, the pause will last.
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