The Australian dollar traded flat-to-lower today, the same as its New Zealand counterpart, even though macroeconomic reports from China, Australia’s biggest trading partner, were good. Domestic economic data was not so good, though.
The National Bureau of Statistics of China reported that the Consumer Price Index rose 1.9% in October from a year ago. It was a bigger increase than 1.6% registered in the prior month and 1.8% predicted by analysts. The Producer Price Index increased 6.9%, the same as in September and above the median forecast of 6.6%.
Meanwhile, the number of home loans in Australia decreased by 2.3% in September from August on a seasonally adjusted basis following the 1.5% increase in the previous month. That is instead of rising by 2.5% as experts had promised.
AUD/USD was basically flat at 0.7676 as of 10:40 GMT today. EUR/AUD advanced from 1.5097 to 1.5123. AUD/JPY dropped from 87.41 to 87.02, retreating from the daily high of 87.66.
If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.
