The Australian dollar was falling since the beginning of today’s trading session and accelerated its decline after the release of mixed macroeconomic data from Australia and Australia’s biggest trading partner — China.
The China Federation of Logistics and Purchasing released its Purchasing Managers’ Indices for April today. The manufacturing PMI slipped a little from 51.5 to 51.4, while the non-manufacturing PMI rose a bit from 54.6 to 54.8. Both indicators were close to market expectations and both remained above the neutral 50.0 level, showing an expansion.
As for Australia’s data, the Reserve Bank of Australia reported that private sector credit rose 0.5% in March from the previous month, while experts had predicted the same 0.4% rate of growth as in February. Year-over-year, the rate of growth remained stable at 5.1%. The Housing Industry Association reported that new home sales fell 2.0% in March from February, meaning that sales were down in each of the first three months of 2018.
AUD/USD fell from 0.7576 to 0.7553 as of 10:19 GMT today. EUR/AUD ticked up from 1.5996 to 1.6029, and its daily high was at 1.6057. AUD/JPY slid from 82.64 to 82.51.
If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.