The Australian dollar retreated today as home-loan approvals in Australia unexpectedly fell and China’s imports declined, damping prospects for Australian exports.
The number of Australia’s dwelling finance commitments fell 1 percent in July from June, seasonally adjusted, while a little increase was forecast by experts. China’s imports slid 2.6 percent in August from a year ago. Most of Australian exports go to China, therefore the drop of imports is negative for Australia’s economy and currency.
AUD/USD fell from 1.0367 to 1.0348 and AUD/JPY declined from 81.11 to 81.01 as of 10:54 GMT today.
If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.
