AUD / USD
On Tuesday, the Australian dollar increased by 62 points due to the growth of commodities. Oil rose by 3.6%, iron ore by 2.1%, gold + 0.4%, copper + 1.7%, and aluminum + 4.2%. Against this background, the NAB showed a downfall from 9 to 7, versus expectations of show optimism. But this morning, the consumer sentiment index from Westpac for the current month showed -0.6% against the growth of 0.2%, with this growth of the "Australian" has stopped. However, the market is filled with optimistic expectations, as the RBA predicts GDP growth and an increase in the cost of raw materials in the medium term.
After a short respite, we expect further growth of the Australian dollar towards the target levels of 0.7810 and 0.7845.
* The presented market analysis is informative and does not constitute a guide to the transaction.
