Economic Data from Australia Sends Aussie Lower

The Australian dollar fell today as economic reports released from Australia during the current trading session were not particularly good, making them detrimental to the currency.

The Producer Price Index rose 0.3% in the September quarter from the previous three months. While it was a bigger increase than 0.1% during the June quarter, it was two times smaller than the median forecast of 0.6% growth. Housing Industry Association reported that the seasonally adjusted number of new home sales rose by 2.7% in September, but the report said:

The mix of available indicators suggests that new home building activity has now passed its peak and that the 2015/16 financial year will not be matched in terms new dwelling starts.

AUD/USD dropped from 0.7587 to 0.7573 as of 12:05 GMT today. EUR/AUD advanced from 1.4351 to 1.4415.

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