The Australian dollar slumped at the start of the current trading session, driven down by disappointing domestic macroeconomic reports, but managed to bounce by now.
The Australian Consumer Price Index rose 0.6% in the December quarter from the previous three months, the same as in the September quarter but below the analysts’ projection of 0.7%. The trimmed mean CPI increased by 0.4%, also demonstrating the similar rate of growth to that of the previous quarter but missing expectations of a 0.5% increase. Private sector credit rose by 0.3% in December from the prior month, slowing from the 0.4% growth in November and missing the forecasts of a 0.5% growth.
AUD/USD gained from 0.8080 to 0.8108 as of 13:24 GMT today after falling to the low of 0.8046 earlier. AUD/JPY opened at 87.90, dropped to the session low of 87.63, but was able to rebound to 88.27.
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