The recorded of unemployment rate in Australia increased to 6.4 % in July showing that the economy is slowing down and that new job creation is on a decrease, and the monetary policy meeting was clear that the forecasts of a period of below-trend growth economic activity will affect unemployment rate negatively. Also export volumes decline following the very strong growth in the March quarter which will reflect lower demand on Australian productions. On the other hand conditions in the established housing market continued to strengthen. And finally Yields on Australian government bonds also declined over the past month.

AUDUSD dived under the psycho level 0.90 reaching in the first dive 0.8983 and on the second 0.8987 for after to jump all the way to reach 0.911, with a slow economy in Australia and an increase in unemployment, AUDUSD might dive furthermore to new support levels.

Provided by Fxhighway