The Australian dollar gained today with the help of upbeat economic data from Australia, though the currency is slowly losing its gains as of now. Still, currently the Aussie trades above the opening level.
Australia’s trade balance deficit shrank by A$288 million to A$787 million in August from the previous month on a seasonally adjusted basis. Building approvals grew by 3 percent last month (also adjusted for seasonal factors), outpacing analysts’ predictions. The Aussie gained due to the reports, but gains were limited as traders were reluctant to risk ahead of the European Central Bank policy decision and US non-farm payrolls.
AUD/USD rallied from 0.8734 to 0.8816 before trading at 0.8772 as of 12:00 GMT today. EUR/AUD went down from 1.4488 to 1.4399, reaching the low of 1.4346 intraday.
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