The Australian Dollar Reached Monthly Highs

In the first quarter of 2017, the Australian economy grew by 0.3% compared to the previous value of 1.1%. At the same time, the indicator exceeded the market expectation of 0.2%. Participants of the financial markets gave an upbeat assessment of this statistics, which led to an increase in demand for the Australian dollar. It should be recalled that yesterday, the Reserve Bank of Australia retained the key interest rate at the previous level of 1.50%. The regulator said that the current monetary policy will allow achieving stable economic growth.

The publication of important economic reports from the United States is not planned today. Investors' attention will be directed to tomorrow's elections in the UK, ECB meeting and press conference of the fired director of the FBI James Comey.

At the moment, futures for oil and gold are showing negative dynamics.

Market Indicators

Yesterday, there was a slight correction in the US stock market. SPY (SPDR S&P 500 ETF) decreased by 0.32% to 243.21 USD.

Today, the 10-year US government bonds yield is recovering after a significant decline in yesterday's trading. At the moment the indicator is at the level of 2.15%.

Yesterday, the dollar index (#DX) completed the trading session in the negative zone (-0.17%).

Today we recommend you to pay attention to the following statistics:

  • – Revised GDP of the Eurozone at 12:00 (GMT+3:00);
  • – Building permits in Canada at 15:30 (GMT+3:00);
  • – Crude oil reserves in the US at 17:30 (GMT+3:00).

by JustForex, 2017.06.07

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.