The Australian dollar joined the broad based rally against its US rival. Against other currencies, the Aussie declined as basically all domestic macroeconomic reports released over the Thursday’s session were poor.
The seasonally adjusted Australian Industry Group/Housing Industry Association Australian Performance of Construction Index registered a reading of 55.3 in August, down from 60.5 in the previous month. Australia’s seasonally adjusted retail sales showed no change in July, whereas experts had predicted the same 0.2% growth as in the preceding month. The nation’s seasonally adjusted trade balance logged a surplus of A$0.46 billion in July — a decrease from June’s excess of A$0.89 billion instead of predicted increase to A$0.93 billion.
Earlier this week, the Reserve Bank of Australia left its main interest rate unchanged. Traders will watch closely tomorrow’s speech of RBA Governor Philip Lowe, trying to discern hits regarding the central bank’s moves in the future.
AUD/USD advanced from 0.7998 to 0.8036 as of 19:45 GMT today after touching the daily low of 0.7974 earlier. EUR/AUD gained from 1.4892 to 1.4952. AUD/JPY slipped from 87.36 to 87.15.
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