AUD / USD
The Australian dollar grew by 31 points on Wednesday with favorable conditions developed. Retail sales in Australia for February showed an increase of 0.6% against expectations of 0.3% and the January figure was revised from 0.1% to 0.2%. Building permits for February further decreased to -6.2% vs. -4.8%, but the previous January growth was very good showing 17.2% (revised from 17.1%).
This morning, the trade balance for February was released, showing zero growth in both imports and exports, the volume amounted to 0.825 billion dollars against the forecast of 0.680 billion dollars. But the January balance was revised downward from 1.055 billion to 0.952 billion dollars. The service activity index from AIG for March rose from 54.0 to 56.9.
Today is a national holiday in China but because of the beginning of the US-China trade war, futures for iron ore with delivery to Dalian fell to 4.2%. On the US stock exchange, iron ore dropped 0.3% to $ 63.57 per ton. While copper loses 1.1%.
There are US data on work tomorrow, as unemployment numbers are expected to decrease from 4.1% to 4.0%. We are expecting for the Australian dollar in the range of 0.7610 / 20.
