Australian Dollar Steady on Tuesday

The Australian dollar was little changed today even though domestic macroeconomic data released over the trading session was relatively decent and supportive to the currency.

The business confidence index released by National Bank of Australia today showed a small drop from 7 in February to 6 in March. At the same time, the business conditions index edged up from 9 to 14. Overall, the report was fairly positive, saying:

Results from the March NAB Monthly Business Survey indicate an overall healthy economy that appears to be gaining momentum, at least in the near-term.

AUD/USD traded at 0.7509 as of 11:21 GMT today after opening at 0.7500. EUR/AUD was at about 1.4127 after opening at 1.4120.

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