Australian dollar rebounds on April 13

Posted 13 April, 2018

The Australian dollar is rising against US counterpart on Friday. The price stands at 0.7807. Australia’s Federal Reserve Bank released financial stability report this morning. The announced data was welcomed by investors. According to the report, Australian financial system looks quite stable in the global meaning and the bank system – balanced. The risks for Australian banks are reportedly estimated to be restrained, while the Central Bank’s spending on bank servicing decreased over a year.

There are some risks connected with households due to non-uniform spendings and generally slow increase in expense items.

The Bank spokesperson noted that the country’s economy would feel only restrained impact if external environment put any pressure. However, Australian remains highly vulnerable to China’s macroeconomic figures on close trade cooperation Beijing.

The released report did not bring anything brand new, though it again showed that Australian economy is stable and has reserves. All these factors play into hands of the national currency.

Previous forecast

17 April, 2018 14:46

← US dollar still sticks to downtrend

US dollar has slackened recently. After stabilization attempts trading was resumed in Asia, with US Dollar index touching 3-week bottom. The greenback keeps changing hands in line with the downward trend, while tries to recover attract sellers as before. Earlier, the US President Donald Trump blamed China and Russia for the deliberate devaluation of the national currencies...

US dollar still sticks to downtrend

Next forecast

12 April, 2018 13:18

Daily Analysis | EUR/GBP | 12 of April →

The EUR/GBP has been trapped within the narrow range of W L3 and W H3 Pivot. Slow price action indicates that we might expect a breakout when volatility gets higher. At this point, the price is stalling between the two trend line diagonals that also intersect essential pivot points. Break of W H3 – 0.8737 should target 0.8760 and possibly 0.8792. However a break of D L3 – 0.8710 should target 0.8680. 

Daily Analysis | EUR/GBP | 12 of April
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