Poor economic data from Australia led to the second session of losses for the Australian dollar today. The currency attempted to gain ground but was unsuccessful so far, though it trimmed its losses.
The number of home loans fell 0.9 percent in August from July when it rose 0.3 percent. Analysts counted on a 0.2 percent increase.
Yesterday’s employment data from Australia was also totally devastating for the Aussie. Employment contracted by 29,700 jobs in September, while the consensus forecast promised an increase by 17,600. Many experts considered the increase of 121,000 for the previous month to be an unrealistic figure, and such view proved true as the Australian Bureau of Statistic changed the figure to 32,100, basically removing the seasonal adjustment. The unemployment rate was up 0.1 percentage point last month from the revised 6.0 percent reading for August.
AUD/USD fell from 0.8782 to 0.8729 as of 13:55 GMT today, reaching the low of 0.8687 intraday. EUR/AUD traded at 1.4483 after rising from 1.4448 to 1.4547 earlier. AUD/JPY was near 94.14 following the drop from 94.70 to 93.68.
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