AUD / USD
Yesterday, the Australian dollar failed to stand out from the general range of major currencies and closed the day by 7 points. In adjacent markets (with the exception of oil), the situation was also flat, as the oil added 3.2%, iron ore -0.5%, copper and gas remained virtually unchanged, wheat fell 0.6%, and meat traded mixed.
After the meeting of the National Library of New Zealand this morning, the New Zealand dollar loses about 70 points in line with the statement of the Central Bank to keep the current policy (current rate 1.75%) "long enough". Also in China, INC in April fell from 2.1% YoY to 1.8% YoY.
There is nothing new on the commodity markets, except from oil growth and the prospects for a corrective growth of the US dollar seems short-term, as the Australian currency may react weakly to it. We are looking forward to a decline in the AUD / USD currency pair in the range of 0.7375 / 85.
* The presented market analysis is informative and does not constitute a guide to the transaction.
The material has been provided by InstaForex Company - www.instaforex.com
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