Australian Dollar Driven by News from China & Europe

The Australian dollar ticked down against its US peer but gained on the euro and the Japanese yen during Monday’s trading. The currency was mostly driven by the news from Europe and China.
News from China was relatively positive, showing that nation’s imports fell 6.1 percent in June versus the expected 15.5 percent. This is a good sign for the Australian economy that strongly relies on shipping goods and raw materials to the Asian country.
Meanwhile, the news about a bailout deal between Greece and its European creditors rocked the market. While the event looked positive for the traders’ mood, market participants were concerned that the aid may still be not implemented.
Overall, the Australian currency performed relatively similar to its Canadian peer, though it was a bit stronger.
AUD/USD edged down from 0.7415 to 0.7405 as of 23:57 GMT today. EUR/AUD declined from 1.4957 to 1.4853. AUD/JPY was up from 90.66 to 91.38. AUD/CAD rallied from 0.9415 to 0.9432.

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