Australian Dollar Recovers After Opening Lower

The Australian dollar rose against some of its major rivals today but that is after opening below the Friday’s close. Macroeconomic data released in Australia over the course of the trading session was generally supportive to the currency.

The Australian Industry Group Australian Performance of Services Index increased from 52.0 to 54.9 points in January. The ANZ Commodity Price Index rose 0.7% in January from the previous month after logging three monthly declines in a row previously, including a 1.9% drop in December. Also reported by the Australia and New Zealand Banking Group Limited (ANZ), the number of jobs advertisements climbed by 6.2% in January, month-on-month, following the revised 2.7% drop in the preceding month.

AUD/USD rose from 0.7912 to 0.7939 as of 10:53 GMT today after closing at 0.7918. AUD/JPY was little changed at 87.18 following the Friday’s close at 87.24.

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