Today, the Australian dollar rose together with other currencies linked to growth and commodities as positive trade data from China helped to alleviate risk aversion on markets.
China’s trade surplus widened to $60.09 billion in December from $54.10 billion in November while analysts had expected it to narrow to $53.00 billion. The news helped the market sentiment but does not necessarily bode well for the export-oriented Australian economy as China’s imports fell. Additionally, it is worrying that Chinese stocks resumed their decline, falling more than 2 percent during the current trading session.
AUD/USD rose from 0.6984 to 0.7017 as of 12:55 GMT today, touching the high of 0.7048 intraday. AUD/JPY gained from 82.12 to 82.87, and its daily high was at 83.39.
If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.
