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Monday, 18 June 07:35 (GMT -05:00)



Foreign exchange market

Forex. AUDUSD


According to the recent report published by TD Securities, with reference to the data published by the Department of Economics and Trade at the University of Melbourne, September’s inflation figures were equal to 0,3% relative to the previous readings of 0,1%. The year-over-year dynamics also showed an increase fro, 1,7% up to 1,9% over the reporting period.

 

 

 


The inflation growth is one of the positive factors for the national currency of Australia. It should also be noted that the RBA’s inflation target is in the range between 2% and 3%. Despite the fact that, there was a slight hike in August, the latest figures indicate that the inflation rate is still below the target range
 
At the same time, the latest figures testify to the fact that the Australian economy is gradually recovering. The positive situation in the local labor market deserves special attention. According to ANZ (Australia and New Zealand Banking Group Limited), the vacancies index saw a sharp increase in September relative to 1% seen a month before. The experts assume these are the factors confirming the supposition that the economy is recovering.
 

 

Forex

The Austrian Dollar is still trading within the scope of the same long-term downtrend against the U.S. counterpart, Masterforex-V Academy reports. The closest levels of support are located at 0.6935, 0.6907 and 0.6857, 0.6807, 0.6780. The closest levels of resistance are located at 0.7278 and around the descending MF sloping channel.
 

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