Australian Dollar Etches Small Gains After Economic Releases

The Australian dollar etched small gains against some of most-traded currencies after the release of macroeconomic reports from Australia as well as from China, Australia’s biggest trading partner.

Australia’s house prices rose 1.5% in the September quarter from the previous three months, failing to reach the consensus forecast of 2.6%. The Business Confidence measured by National Australia Bank rose a bit from +4 to +5 in November.

The National Bureau of Statistics of China released a report today that contained several important economic indicators. Among them, were industrial production and investment in fixed assets that grew 6.2% and 8.3% respectively in November, year-on-year, matching market expectations. Retail sales were up 10.8%, exceeding the average projection of 10.2% growth.

AUD/USD traded at 0.7497 as of 2:35 GMT today after opening at 0.7495 and rising the intraday high of 0.7513. AUD/JPY rose from 86.20 to 86.34. AUD/CHF went up from 0.7593 to 0.7599.

If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *