The Australian dollar rose today, gaining on its major peers for the third straight day, after release of macroeconomic data from Australia. Now, traders wait for a monetary policy decision from the Reserve Bank of Australia.
Australian building approvals fell 1.8% in August from July. While it does not look like a good reading by itself, the actual figure was far better than the predicted drop by 5.8%. Furthermore, the July increase was revised up from 11.3% to 12.0%. Meanwhile, ANZ job advertisements fell 0.3% in September from the previous month after increasing 1.7% in August.
Now, traders wait for the monetary policy decision from the RBA which should be announced at 3:30 GMT today. It will be the first policy meeting under the leadership of the new Governor — Philip Lowe. Analysts do not expect any changes to the policy, but it will be interesting to see what the Governor says in his statement.
AUD/USD ticked up from 0.7671 to 0.7679 as of 1:35 GMT today. EUR/AUD slipped from 1.4603 to 1.4591. AUD/JPY advanced from 77.96 to 78.38, trading near the highest level since September 8.
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