The Australian dollar gained versus its US counterpart, touching the highest level since May 2015, on the back of the US dollar’s weakness. The Aussie gained on the euro as well, but lost its gains versus the Japanese yen.
Number of home loans in Australia rose 2.9% in July from June on a seasonally adjusted basis, far exceeding the forecast increase 1.0%.
The trade balance surplus reported by China, Australia’s biggest trading partner, narrowed from $46.73 billion in July to $41.99 in August instead of rising to $48.6 as experts had predicted. The data was not necessarily bad for Australia as China’s imports continued to growth with faster pace.
AUD/USD rallied from 0.8045 to 0.8086 as of 14:01 GMT today, touching the multi-year high of 0.8116 intraday. EUR/AUD dropped from 1.4935 to 1.4896.
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