AUD was bullish until Australian Bureau of Statistics release quarter to quarter Construction Work Done. Though it was slightly better than previous quarter (3.6 percent) much lower than expected value of 0.6 percent. The value is still better but way slipped than expected, the announcement start the bearish route. A 3.1 percent is much lower than expectations of economists as well as traders.
From that point all the way till market close total bearish. The Aussie supportive reasons like, formal suspension of the planned tariff increase on Chinese goods 'Until Further Notice' [decision by President Donald Trump to temporarily delay his Friday deadline] and Britons 'no deal' Brexit scenario announced by Prime Minister May have started losing its strength.
As AUD on bearish mostly against all major currencies on second half of the trading week, even a better Australian Performance of Manufacturing Index (PMI) recovery - 54.0 points - cold not enough turn the currency to bullish.
Open (on Monday, 25 Feb 2019) 0.71252
High (on Wednesday, 27 Feb 2019) 0.71988
Low (on Friday, 1 Mar 2019) 0.70698
Close (on Friday, 1 Mar 2019) 0.70800
From that point all the way till market close total bearish. The Aussie supportive reasons like, formal suspension of the planned tariff increase on Chinese goods 'Until Further Notice' [decision by President Donald Trump to temporarily delay his Friday deadline] and Britons 'no deal' Brexit scenario announced by Prime Minister May have started losing its strength.
As AUD on bearish mostly against all major currencies on second half of the trading week, even a better Australian Performance of Manufacturing Index (PMI) recovery - 54.0 points - cold not enough turn the currency to bullish.
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| AUD never recovered after unhealthy construction index. |
Open (on Monday, 25 Feb 2019) 0.71252
High (on Wednesday, 27 Feb 2019) 0.71988
Low (on Friday, 1 Mar 2019) 0.70698
Close (on Friday, 1 Mar 2019) 0.70800
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