Australian Dollar Firm After Weak Data

The Australian dollar fell against its US counterpart slightly but gained on other most-traded peers today even though domestic macroeconomic data was not particularly helpful to the currency.

The Melbourne Institute inflation expectations fell by 0.1 percentage point to 3.6% in April. The number of home loans fell by 0.2% in February from January. That is compared to the predicted drop by 0.3% and the previous month’s decline of 1.0%.

AUD/USD traded at 0.7749 as of 13:45 GMT today after opening at 0.7754 and rising to the daily high of 0.7771. AUD/JPY advanced from 82.81 to 83.22.

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