The Australian Dollar continues recovering. Overview for 13.12.2017

On Wednesday, the AUD/USD pair continues rising; for the first time in a long period, the Aussie is supported by the statistics.

The Australian Dollar is still growing against the USD. The current quote for the instrument is 0.7565; it’s rising rather slowly, but the tendency continues.

The statistics published in the morning showed that the Consumer Sentiment in Australia increased by 3.6% in December after losing -1.7% the month before. If we take a closer look at the report, we can see that the Index improved up to 103.3 points this time. It’s the best reading from the Westpac Bank over the last four years.

The Consumer Sentiment Index is based on a survey of a great number of Australian households. The Index is an average of five component indexes, which reflect consumers' evaluations of their household financial situation over the past year and the coming year.

The higher the indicator, the better for the Australian Dollar. The index had been growing for several month before plummeting in November. However, taking into account how much it recovered in December, the continued rising tendency is not a fluke.

Today, the Aussie is quite successfully resisting the USD, which is feeling fine in anticipation of the US Federal Reserve meeting.  There is a possibility that by the end of today’s trading session the Aussie may strengthen against the USD even more.

RoboForex Analytical Department