Australian Dollar Fails to Profit from Positive Data

Domestic macroeconomic data was supportive for the Australian dollar today, but that did not prevent the currency from falling.

The Australian Bureau of Statistics reported that import prices rose 3.2% in the June quarter from the previous three months, beating the consensus forecast of a 1.9% increase. Export prices increased 1.9%, whereas experts had anticipated a decline. Yet the good report was unable to support the Aussie, which fell versus all its major rivals.

AUD/USD declined from 0.7453 to 0.7427 as of 10:56 GMT today. AUD/JPY dropped from 82.71 to 82.30.

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