Australian Dollar Broadly Lower During Friday’s Trading

The Australian dollar traded broadly lower today. While domestic macroeconomic data was mixed, analysts speculated that persisting risk aversion on the Forex market was the major reason for the currency’s decline.
The seasonally adjusted Australian Industry Group/Housing Industry Association Australian Performance of Construction Index slipped from 52.0 to 51.8 in August. The Australian Bureau of Statistics reported that the seasonally adjusted number of home loans rose 0.4% July from June instead of falling 0.1% as analysts had predicted. Next week, there will be several important releases in Australia, including the consumer confidence index provided by the National Australia Bank and, most importantly, employment data.
AUD/USD declined from 0.7197 to 0.7156 as of 10:07 GMT today, and its daily low of 0.7137 was the lowest since March 2016. EUR/AUD climbed from 1.6142 to 1.6254, and its daily high of 1.6289 was the highest since August 2015.

If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *