The Aussie remains under pressure. Overview for 29.08.2019

On Thursday morning, AUDUSD continues falling; the statistics failed to support the Aussie.

The Australian Dollar has been “losing weight” against the USD for the third trading session in a row. The current quote for the instrument is 0.6726.

The statistics published in the morning showed that the HIA New Home Sales lost 7.2% m/m in July after decreasing by 12.4% m/m in the previous month. If we take as a basis the fact that the indicator always declines at the end of the business season, then “drawdown” can be explained by natural factors.

However, the reason may be much deeper: the Australian population is not in a hurry to spend money because they can’t see positive economic outlooks. There is a high probability of the rate cut, which also makes people make a pause in buying real estate. 

Today, global investors will closely follow the numbers from the USA. First of all, the revised GDP reading for the second quarter of 2019. Even if the number disappoints, there will be the third revision, which is almost always efficient.