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Australian Economy Continues Demonstrate Improvement, AUD Higher

March 6, 2014 at 12:16 by Vladimir Vyun

Macroeconomic indicators continue to suggest that Australia’s economy experiences stable growth. This led to gains of the Australian dollar. Hopes for improvement of the global economy helped the currency too.

Retail sales climbed 1.2 percent in January from December, exceeding the anticipated increase of 0.7 percent. The trade balance surplus increased from A$0.59 billion in December to A$1.43 billion in January instead of falling to A$0.11 billion as was predicted. Today’s data followed the report that showed increasing pace of Australia’s economic growth.

AUD/USD jumped from 0.8983 to 0.9049 and AUD/JPY surged from 91.89 to 92.96 as of 12:08 GMT today.

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

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