Aussie Bounces After Intraday Drop

The Australian dollar dipped intraday, but the losses were short-lived, and the currency has climbed above the opening level by now. Other commodity currencies, like the Canadian and New Zealand dollar, demonstrated the similar performance during the Thursday’s trading session.

The Australian currency dropped initially as private capital expenditure showed a drop by 2.1% in the December quarter from the previous three months (seasonally adjusted). While the drop was not as big as the one in the September quarter, it was still bigger than analysts had predicted. Yet the currency managed to recover, probably with the help from the rally of the commodity complex.

AUD/USD rose from 0.7701 to 0.7724 as of 13:49 GMT today after falling to the daily low of 0.7665 earlier. EUR/AUD was down from 1.3703 to 1.3688 following the rally to the session high of 1.3762.

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