The Australian dollar fell at the start of today’s trading session as macroeconomic data from Australia disappointed trades. Yet for whatever reason the currency managed to bounce and is trading above the opening level right now.
Australian private capital expenditure fell 2.2 percent in the fourth quarter of the last year on a seasonally adjusted basis after rising in the previous three months. Analysts expected a drop but not that big. The Australian dollar was in a clear cut downtrend since the current trading session opened, but the currency managed to pause the decline relatively early and is now struggling to rally.
AUD/USD rallied from 0.7885 to 0.7899 as of 11:10 GMT today after falling to 0.7836 earlier. AUD/JPY opened from 93.71 and traded at 93.79 after bouncing from the daily low of 93.28.
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