AUD/USD: employment data supported the pair. Trading Recommendations

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 Since the beginning of the month the Australian dollar has received support from the release of some positive news regarding the current state of the Australian economy.

So, today released data on employment and unemployment in the country, allowed the pair AUD/USD will strengthen in the time of news release at 00:30 (GMT) on 100 points. Further to the opening of the European session the AUD/USD declined by half growth, however, the upward momentum in the framework of the upward correction in the pair remains.

However, the Australian dollar remains vulnerable amid falling world prices for commodities, as the basis of the economy of the country is still exporting raw materials. The reduction in investment in the mining sector of the economy and the falling price of iron ore, the largest exporter is Australia, amid a decline in Chinese imports from Australia, creating a negative background for the development of the Australian economy as a whole. The pace of development of the national economy remain weak. So,

GDP in Q3 rose by 0.9% (versus forecast of 0.8% and 0.3% in the previous period). In annual terms, GDP grew by 2.5% (vs. 2.4% and 1.9% in the previous period).

Market participants still expect further easing of monetary policy in the country. The reduction of interest rates in 2016 is expected to double.

Thus, against the background of tightening monetary policy in the US, falling global commodity prices, weak GDP growth, the Chinese economic slowdown and decline in Chinese imports from Australia AUD/USD will remain under pressure in the medium term.

From the news this week waiting for U.S. data which will be released on Friday at 13:30 (GMT). The producer price index and retail sales in November, better than expected data for the previous month will have the coincidence with the prediction of support for the US dollar and will put pressure on AUD/USD.