Australian Dollar Bounces After Falling Intraday

The Australian dollar was down intraday but has bounced as of now even though Australia’s macroeconomic data was rather detrimental to the currency.
Australia’s private capital expenditure dropped 5.2% in the March quarter of 2016 versus the forecast decline by 3.2%. The Australian currency demonstrated a surprising reaction to the news, starting a rally. The possible reason for the admirable performance was the rise of crude oil prices that have reached the $50 level.
AUD/USD advanced from the open of 0.7197 to 0.7231 as of 14:01 GMT today after falling to the session low of 0.7161. AUD/JPY touched the low of 78.44 before returning to the opening level of 79.30.

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