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19.04.201808:21 Forex Analysis & Reviews: "Australian" dollar supported the commodity markets

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

AUD / USD

Despite the outpacing decline in the Australian dollar, which was discussed in the previous review, the AUD / USD pair increased by 18 points yesterday against the growth of the dollar index by 0.16%. The reason for this was the strong growth of commodity markets on the back of the anticipated new sanctions against Russian companies. Moreover, oil added 3.4%, iron ore by 2.1% (with delivery to China Dalian + 4.3%), aluminum increased by 5.5%, copper by 2.1%, and nickel by 7.5% (!) . With this, the anticipated sanctions against the company "Norilsk Nickel" triggered some issues.

This morning, the employment data for. Employment increased by 4.9 thousand jobs against the forecast of 20.3 thousand and the indicator was revised from 17.5 thousand to -6.3 thousand. This happened by the end of two months, the number of unemployed increased by 1.4 thousand. The share of the economically active population decreased from 65.6% to 65.5%. At the same time, the unemployment rate remains 5.5%. The quarterly index of business confidence NAB has remained at the value of 7.

On Tuesday next week, the quarterly inflation data will be released with a positive forecast. The total CPI is expected to grow quarterly to 0.7% from 0.6%, while the annual growth may be 2.0% from 1.9% in the previous period. Investors may prefer wait-and-see mode, as the "Australian" currency may trade in the range of 0.7760-0.7810.

* The presented market analysis is informative and does not constitute a guide to the transaction.

Laurie Bailey
Analytical expert of InstaForex
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