rfxsignals February 18, 2021 No Comments

The Australian Dollar is trying to grow. Overview for 18.02.2021


AUDUSD is trying to recover on Thursday but the situation is rather complicated.

The Australian Dollar is attempting to rise against the USD on Thursday morning but the market situation is not so simple. The current quote for the instrument is 0.7751.

The statistics published in the morning showed that the Unemployment Rate in Australia dropped to 6.4% in January after being 6.6% the month before. The indicator was expected to fall but the actual reading is still better than expected.

The Employment Change in the country in January was 29.1K, which is worse than both expected and previous readings of 30.2K and 50.0K respectively. the components of the report show that the Full-Time Employment went up, while the Part-Time Employment reduced. The Participation Rate also decrease.

The employment situation early in the year is rather complicated but the overall tendency remains positive, that’s why one shouldn’t draw far-reaching conclusions.

Yesterday, one of the RBA representatives said that the AUD rate would have been 5% higher had it not been for stimulus measures taken by the government. Needless to say that the regulator’s “soft” monetary policy has an influence on the national currency. According to the RBA, the Aussie would be steadily rising amid growing commodity prices but the current fiscal policy holds it back. The soft monetary policy is playing an important role in the recovery of the Australian economy and the RBA will continue sticking to this plan.

It was said on several occasions that the regulator wasn’t happy with the AUD rate. The Aussie is moving close to the upside border of the long-term range against the USD and the Australian regulator doesn’t like it. However, the RBA has no real tools for controlling the rate, that’s why all it can do is to intervene verbally.