The level of household income in Australia is reported to have grown in Q3 2015. This is stated in the official report published by Australia’s major statistics agency. It is important to keep in mind that the growth was systemic, i.e. it was seen in every single industry of the Australian economy.
In particular, it is reported that the average paycheck got 0,6% bigger in the 3rd quarter of the year. This is what the Australian Bureau of Statistics reports. As for the year-over-year comparison, the growth amounted to 2,3%. In both cases, the actual figures matched analyst estimates, which means that they didn’t come as a surprise for the market.
As we have just mentioned, the salary growth can be seen in all the industries of the Australian economy. When adjusted for seasonality, the growth in the public sector reached 0.7%, thereby outpacing the 0,5% increase in the private sector. The biggest winner is the sector of catering and public services. These guys saw a salary increase equal to 1.6%. The tiniest growth was seen in the sector of finances and insurance – just 0.2% over the same reporting period.
FOREX
Meanwhile, Masterforex-V Academy reports that the Australian Dollar is still losing its value against the U.S. Dollar even despite the mentioned strong economic figures, which means that AUDUSD is still moving down.
For now, the price is developing a bearish move – wave 3/C of level Monthy2. There is a junior move inside of it – wave b(C ). The closest key level of support can be found at 0.6935/07. A break below it will give way to further lows - 0.6759/36, 0.6611, 0.6428, 0.6320, 0.6261.
Alternatively, on breaking above the top of the descending MF sloping channel and MF pivot 0.8161, we will see AUDUSD terminating the current bearish move.
