China’s Amazing Trade Data Boosts Australian Dollar

The Australian dollar rose against its rivals today thanks to the surprisingly good trade report released from China, Australia’s biggest trading partner. Economic data from Australia itself was not so good, but it did not affect the currency enough to drive it down.

China’s trade surplus rose to the highest level in a year in January, beating analysts’ expectations. Exports rose by 7.9% while imports jumped as much as 16.7%.

Meanwhile, Australia’s home loans rose 0.4% in December from November (seasonally adjusted), missing market expectations of 1.0% growth.

AUD/USD rose from 0.7623 to 0.7642 as of 11:21 GMT today, reaching the high of 0.7657 intraday. EUR/AUD dropped from 1.3970 to 1.3926, the lowest level since April 2015.

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Your email address will not be published.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 *

89 + = ninety seven