The Australian dollar dropped against the euro after the report showed that the number of home loan in Australia unexpectedly decreased. The currency erased losses versus the US dollar and the Japanese yen as commodities and stocks slowed decline.
The Standard & Poorâs 500 Index was little changed after falling earlier 0.5 percent. The Thomson Reuters/Jefferies CRB Index of raw materials was little changed, following a decline by 0.4 percent.
The number of home loans in Australia contracted by 1.5 percent in March, following the drop by 4.7 percent in February. It appears that analysts were too optimistic to expect an increase by 2.3 percent.
Tomorrow the minutes of the Australia’s central bank monetary policy meeting will be released. It may give hints to plans of the bank’s policy makers regarding the interest rates and influence performance of the Aussie.
EUR/AUD rose from 1.3318 to 1.3387 as of 20:00 GMT today. AUD/USD rose to 1.0588 after falling from 1.0575 to 1.0513. AUD/JPY traded near its opening level of 85.52 after dropping to 84.92.
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