FX.co ★ The Australian dollar recedes but does not lose hope

AUD / USD

Yesterday, US President Donald Trump signed a decree on raising tariffs for steel and aluminum, but an exemption was made for Canada and Mexico in order to convince them for the revamp of NAFTA. The Canadian dollar strengthened by 15 points against the fall of the euro while the British pound gained about 100 points. The Australian dollar has lost 38 points, as investors are hoping to still get a relief on tariffs and for Australia. However, prices in commodity markets and the metal market continued to fall, which inevitably involve the "Australian" currency. Iron ore is losing 3.4% ($ 73.23 per tonne). On the Asian stock exchanges, only China A50 demonstrates optimism, showing only a symbolic growth of 0.04% with the Australian S & P / ASX200 up 0.36%, and the Japanese Nikkei225 at 0.81%. The Chinese market was not supported by the current inflation data. The total CPI for February added 1.2%, which helped to show an annual growth from 1.5% to 2.9% YoY.

We are expecting for the Australian dollar at 0.7690.

* The presented market analysis is informative and does not constitute a guide to the transaction.