Australian Dollar Bounces After Two Days of Losses

The Australian dollar rebounded today following two days of losses despite somewhat mixed domestic macroeconomic data. Today’s bounce was not enough to counter yesterday’s decline, though.
The Westpac-Melbourne Institute Leading Economic Index in Australia rose by 0.1% in October from the previous month. The September reading got a positive revision from a drop by 0.1% to zero change. At the same time, six month annualized growth rate, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell from 0.41% in September to 0.08% in October.
AUD/USD gained from 0.7213 to 0.7239 as of 9:42 GMT today. AUD/JPY advanced from 81.32 to 81.74.

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