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The Australian dollar fluctuated in a narrowly bearish range during the Asian session to see its rebound of the second session in three sessions of its highest since June 25 against the US dollar following data from the Australian economy and on the eve of economic data expected Friday. Forward of the US economy, the largest economy in the world.
At 15:16 GMT, the Australian dollar fell 0.09% to 0.7380, compared to the opening levels of 0.7387 after recording a low of 0.7376, at 0.7397.
We followed the Australian economy by reading the AIG manufacturing index, which showed a contraction of 50.6 vs. 54.0 in May, a few hours after Alexandra, a member of the Australian central bank. Heath said the recent Australian economic data was positive and that the Australian central bank is now more confident in maintaining the recovery of non-mining investments.
Heath also voiced the Australian Central Bank's close monitoring of home price developments and its impact on household wealth, indicating that residential investment should not be reflected in the growth over the next few years. The interest rate of 1.50% for the 21st consecutive meeting and the monetary policy statement that supported the expectations of a rate hike later next year 2019.
D & # 's The other hand, the markets are currently looking for market data at the lowest level since the end of 2000 at 3.8% and the stability of average hourly earnings at 0.3%, unchanged from May, while the change in non-farm payroll will reflect a slowdown in job creation to about 195,000 compared to about 223,000 jobs.
This comes a few hours after the publication of the minutes of the June 12-13 meeting of the Federal Committee, in which members of the Committee expressed the need to raise the level of federal funds and to support the expectations of 39; inflation. At 2%, and that members see that excessive economic growth is increasing the economic downturn, while few members believe that fiscal stimulus supports economic growth.
The minutes of the Fed meeting address members' message that economic conditions favor a gradual rise in rates and that many companies are worried about business and risk risks. emerging markets and European markets. FOMC performance monitoring is limited, and that members discussed at the meeting in the middle of last month the curve of the yield curve.
The minutes of the FOMC meeting show that trade concerns limit capital spending, noting that future trends are no longer necessary because of the expected growth and interest trajectory. Nominal levels from here next year, while a small number of members think that the probability of inflation exceeding 2% for a temporary period will support expectations of the future. inflation.
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