04.05.201812:05 Forex Analysis & Reviews: Correction for the "Australian" is completed

AUD / USD

Yesterday and today, the Australian dollar shows a full-fledged correction after a full fall since April 19. The main impulse was set on Thursday, a good indicator of the trade balance for March against the backdrop of the waiting position of European and American traders. The trade balance amounted to 1.527 billion dollars against 1.349 billion in February, and revised to increase from 0.825 billion dollars. The forecast on Trade Balance assumed a decrease to 0.65 / 68 bn. Construction permits were also good. The general index in March added 2.6% against the expectation of 1.0%, the permission to build private houses increased by 1.1%, and the previous index was revised to increase from 1.9% to 3.1%.

In the commodity markets, the changes were small and multidirectional. Oil added 0.6%, iron ore decreased by 0.2%.

Today, with the release of US labor data, the optimistic mood of Australian investors can be changed. The forecast for the unemployment rate in the US in April is 4.0% against 4.1% earlier. Following the general strengthening of the dollar on the Australian currency will also be put a lot of pressure. We are waiting for the price in the near future at 0.7440.