The Australian dollar intends to continue to rise. Review as of 01.11.2019
The Australian dollar continues to rise in price in pair with the American “colleague” in early November. The current quotation in AUDUSD is 0.6907. Today’s statistics from Australia are moderate, but ozzie doesn’t seem to be “upset. Thus, the index of business activity in the manufacturing sector fell to 51.6 points in October against 54.7 points before. This means that the managers of the leading industrial enterprises of the Green Continent see the prerequisites for a slight deterioration of the situation. Not the best signal for the country’s economy, of course.
Meanwhile, in the third quarter, the producer price index in Australia increased by the expected 0.4% quarter-on-quarter. The price dynamics in this case is fine, but there was no reason to worry.
Ozzy reacted positively to statistics from China, which is Australia’s main trade and economic partner. The Markit/Caixin Manufacturing Index of the Celestial Empire rose to 51.7 points in October, up from 51.4 points before. Activation of business in this case may signal a decrease in risks in relation to “trade wars”, and this is good.
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