Aussie Flat as Fundamentals Provide No Help

The Australian dollar slipped today as domestic fundamentals were not particularly supportive for the currency. The Aussie managed to pare losses and is trading near the opening level right now.

The number of home loans rose 1.0 percent in October from the previous month. The reading was a bit smaller than predicted 1.3 percent and way below the September increase of 3.5 percent. The business confidence index of National Australia Bank ticked down a little from 6 in October to 5 in November. The report said:

Business conditions and confidence broadly unchanged – with confidence still much higher than conditions. While still weak, business conditions appear to be trending higher.

AUD/USD traded at 0.9121 as of 11:08 GMT today after falling from 0.9108 to 0.9073 earlier. AUD/JPY was at about 93.99 following the decline from 94.07 to 93.65.

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