02.06.2014 - The prospects of the Australian economy worsen

The price of the Australian dollar fell sharply after the release of the data on reduction the number of construction permits in the country by 5.6% in April, compared with an expected growth rate of 2.1%. With the deterioration of the situation in the mining sector, the construction sector was supposed to be the key sector of the country, to attract investment and create jobs.

In addition, it is worth noting that the trade balance of the country is under the pressure of falling prices for iron ore and gold. Slowdown in the Chinese economy also adversely affects the mood of investors.

We expect the further decline of the national currency of Australia in the medium term with targets at 0.90 and 0.89.

Gold Coins

Wish you the profits!

FXFINPRO Capital Analytical department.

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.