Australian Dollar Fundamental Analysis.

[myregister]

Australian dollar jumped to as low as 0.7667 per dollar following a report on Fed rate hikes and a slew of figures in Australian Employment data. Entering the European session, AUD / USD traded 0.7664 in a downward trend not far from the peak reached earlier in the Asian session.

 

Australian Dollar's rally is reasonable given the report from the ABS Bureau of Statistics which shows an additional 62,000 new jobs in Australia in November. That number far exceeds the estimated job creation rate of 18,000. Australia's Unemployment Rate is in line with expectations, unchanged at 5.4 percent.

 

In addition, the report released by China's economic indicators, the country's number one trading partner for Australia, today also showed excellent performance according to expectations. Overall, economic data on this day is indeed in favor of the bullish Aussie. the spikes are becoming increasingly after US Dollar tumbles due to monetary policy of the Fed is considered less hawkish despite still raising interest rates.

[myregister]

Construction Index data from December 2017 announced by the Australian Industry Group (AIG) earlier this morning showed a significant decline. This decline makes the Aussie slump about 0.27% from the open market today (8 / January) on the week of Asian session.

The December Construction Performance Index (PCI) Index value fell 4.7 points to 52.8, from 57.5 in November. This decline marks a slowdown in industry growth by the end of 2017. However, results that are still above 50 and indicate overall industry growth. This growth also follows both other AIG economic indicators where AIG Manufacturing Index is at 56.2 points and AIG Services Index is at 52.0 points.

AUD / USD is moving around 0.7843, has fallen 0.27% from today's open market price. Need to monitor this decline may also have an impact on NFP release data last Friday. The movements are likely to happen again because of the encouragement from within Australia which will release total sales changes in the retail field.