On Tuesday afternoon, AUDUSD is moving downwards; market sentiment is in favor of the USD.
The Australian Dollar is getting weaker against the USD on Tuesday afternoon. The current quote for the instrument is 0.6841.
This morning, Australia reported on the HPI for the second quarter of 2019. The indicator lost 0.7% q/q, which was better than the expected reading of -1.0% q/q. By the way, in the first quarter of 2019, the indicator plummeted by 3.0% q/q.
On YoY, the indicator decreased by 7.4%, the same as the quarter before.
The decline of the house prices indicates a reduced demand: by decreasing prices, real estate sellers try to attract new customers. However, at the time of economic uncertainty, it doesn’t work as it should.
Most likely, this decline may go on as long as trade wars between the USA and China continue. China is known to be Australia’s key trade and economic partner, that’s why everything that happens there may be crucial for the Australian economy.
Orgin: RoboForex
