Market Sentiment Drags Aussie Dawn Despite Positive Data

The Australian dollar fell today, dropping for the second consecutive day against its most-traded rivals, as the market sentiment remained unfavorable to riskier currencies linked to commodities and growth. Positive domestic macroeconomic data did not help the Australian currency that much.
Australian new motor vehicle sales rose 1.9% in March from the previous year on seasonally adjusted basis. The Westpac-Melbourne Institute Leading Index rose in March from February, and the report said that “the ongoing positive signal from the Index gives us some comfort that we can expect solid growth in the first half of 2017.” Yet geopolitical tensions, especially surrounding North Korea, made investors reluctant to acquire riskier assets.
AUD/USD dropped from 0.7557 to 0.7515 as of 13:27 GMT today. EUR/AUD advanced from 1.4190 to 1.4264.

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