Economic Data Stops Aussie’s Rally

The Australian dollar dropped today as Australia’s economic data released during the current trading session was not impressive at all. The currency fell for the first day in three against its other major peers.
Australia’s private capital expenditure slumped as much as 9.2 percent in the September quarter from the previous three months. This is compared to the forecasts that had promised a much smaller drop by 2.8 percent. The Aussie declined due to the negative data as well as due to the general risk adverse sentiment caused by geopolitical tensions in various parts of the world and the outlook for monetary tightening in the United States.
AUD/USD declined from 0.7250 to 0.7225 and AUD/JPY went down from 88.94 to 88.55 as of 15:26 GMT today.

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