Dashboard

Solid News

Key Parameters of the Australian Economy are Declining

12/2/2022 12:03 PM

The AUD/USD pair is correcting around 0.6811. However, analysts are skeptical about continuing the upward dynamics, as the statistics recorded growing problems in the Australian economy.

Thus, the index of manufacturing activity from AIG in November fell to 44.7 points from 49.6 points earlier, and the Manufacturing PMI amounted to 51.3 points, which is lower than 52.7 points earlier. The volume of investments also continues to decline: investments in production equipment in the third quarter lost 1.6%, and capital investments of individuals decreased by 0.6%. Even more critical is the 0.2% decline in retail sales in November after a positive 0.6% trend in October, which reflects a drop in buying activity due to rising prices.

The negative dynamics of the US currency prevent a significant weakening of the AUD/USD pair: the dollar, for the first time since mid-August, fell below 105.000 in the USD Index against the backdrop of poor statistics on the labor market. The number of initial jobless claims amounted to 225.0K, which is better than 241.0K a week earlier, but the total number of citizens receiving assistance from the state reached 1.608M, exceeding 1.551M a week earlier and renewing the February maximum.


On the daily chart of the asset, the trading instrument is moving within a downward channel and is preparing to break the range resistance line.

Technical indicators keep a buy signal: fast EMAs on the Alligator indicator move away from the signal line, and the AO oscillator histogram forms downward bars in the buying zone.

Resistance levels: 0.6855, 0.7050. | Support levels: 0.6710, 0.6530.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Mail Us
[email protected]
Call Us
+35 924 928 392


Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using solidecn.com you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2024 SolidECN.com