Economic Data Detrimental to Australian Dollar

The Australian dollar dropped today against its most-traded peers as economic data both domestic and from abroad was detrimental to the currency.
China’s Consumer Price Index rose just 1.3% in August from a year ago after rising 1.8% in the previous month. The reading was far below 1.7% predicted by analysts. As for data from Australia itself, the seasonally adjusted number of home loans dropped 4.2% in July from June, far more than experts had promised — 1.3%.
AUD/USD dropped from 0.7641 to 0.7618 as of 9:55 GMT today. AUD/JPY declined from 78.32 to 77.79.

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