The Australian Dollar Is Dragged Down. Overview for 04.05.2020.
On Monday, the Australian dollar keeps stepping back in the pair with the US dollar, trading at 0.6393.
The morning statistics has shown that the number of permissions for new construction in Australia in March declined by 4% (per month) against the forecast 15% and the previous growth of 19.4% (per month).
The Australian economy felt the influence of the coronavirus pandemics as early as March, most likely due to the economic problems of China. This country has always been the key trade and economic partner of Australia, that is why everything connected to its finance and economy is so
On Tuesday, the Reserve bank of Australia will have a session. The interest rate will most likely remain as it is at 0.25% per annum. The RBA commentaries will be of interest: how it will estimate the situation in the economic system and around it and how it will support the economy is the labor market reflects its weakening.
For now, the risks for the AUD are few but they may emerge if the GDP forecasts worsen.