The Australian dollar ticked up during the Asian trading session today amid returning risk appetite and mixed domestic macroeconomic data. The gains were limited though.
The seasonally adjusted number of building approvals dropped 6.9 percent in August from July, much more than 1.8 percent predicted by experts. At the same time, private sector credit rose 0.6 percent last month, at the same rate as in the month before, while economist had predicted small slowdown of growth to 0.5 percent.
Volatility on markets calmed after the recent turmoil. This sent safe currencies down, allowing risky ones to bounce. Alas, it does not look like the calm is going to persist for long, especially as the release date of the important US employment report gets closer.
AUD/USD went up from 0.6982 to 0.7003 as of 2:16 GMT today. EUR/AUD edged down from 1.6040 to 1.6061. AUD/JPY rose from 83.59 to 83.94.
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