The Australian Dollar continues rising. Overview for 04.09.2019

AUDUSD remains “in the black” and may continue recovering.

On Wednesday morning, the Australian Dollar is rising against the USD. The current quote for the instrument is 0.6772.

The Aussie remains positive the statistics published in the morning were rather neutral, but it was good given the current situation. The Australian GDP added 0.5% q/q in the second quarter, the same as expected. The country’s economy didn’t regress and that’s a good point. 

At the same time, the GDP outlook is quite questionable. If the economy of China, which is Australia’s key trade and economic partner, continues slowing down, Australian numbers will be affected sooner or later. 

There are issues with Export. Due to the decline in global demand for energy commodities, Australian coal may not be sold as well as in the past and that’s a serious impact on the budget. It’s bad news, but may be only a theory so far. 

This week, Australia will report on the Trade Balance for July, which may provide answers to some of the questions.