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Australian Dollar Attempts to Bounce, Fails

November 10, 2016 at 15:57 by Vladimir Vyun

The Australian dollar was trying to rebound today after yesterday’s drop but failed. The currency has started a decline at about 10:45 GMT and continued to fall till now.

Australia’s economic data released on Thursday was mixed, giving the currency no help but also not hindering it. Melbourne Institute Inflation Expectations fell to 3.2% in November from 3.7% in October. Meanwhile, seasonally adjusted Australian home loans rose by 1.6% in September from August whereas experts had promised a drop by about the same amount.

AUD/USD fell from 0.7634 to 0.7592 as of 15:48 GMT today after rising as high as 0.7741 intraday. AUD/JPY traded at 80.93, surprisingly staying above the opening level of 80.67, though retreating far below the daily high of 82.43.

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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