Australian Dollar Falls with Leading Index

The Australian dollar fell against its major peers today after the drop of the nation’s leading index and amid the risk-negative sentiment on the Forex market.

The report released by Melbourne Institute today said:


The six month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell from 0.51% in October to 0.11% in November.

The domestic data together with risk aversion, caused by terrorist attacks in Germany and Turkey, held the Aussie down. Prospects for monetary easing were not helping the currency either.

AUD/USD fell from the open of 0.7259 to 0.7246 as of 17:46 GMT today after rising to the high of 0.7279 intraday. EUR/AUD advanced from 1.4305 to 1.4387.

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