The Australian dollar advanced today as the nation’s trade balance posted an unexpected surplus in December. Reports about retail sales and business confidence were also good, adding to the strength of the currency.
Australia’s trade surplus widened from A$83 million to A$468 million in December, while analysts have predicted a deficit of A$270 million. Retail sales grew 0.5 percent in December from November. The National Australia Bank business confidence index rose from 5 in the third quarter of 2013 to 8 in the fourth quarter, reaching the highest level in more than two and a half years.
AUD/USD rose from 0.8908 to 0.8961 and AUD/JPY went up from 90.37 to 90.93 as of 12:03 GMT today.
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