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Aussie Weakens After Starting Session Strong

February 8, 2018 at 11:34 by Vladimir Vyun

Australian coins and banknotesThe Australian dollar started the current trading session strong but eased down since then, trimming gains against some rivals and losing them completely against others.

The business confidence index reported by the National Australia Bank fell from +8 to +6 in the December quarter. The trade balance surplus of China, Australia’s biggest trading partner, narrowed sharply in January. It is not necessarily a bad sign for the Australian economy as that was a result of a surge in imports, which bodes well for Australia’s trade.

AUD/USD slid from 0.7820 to 0.7805 as of 11:30 GMT today after rallying to the high of 0.7843 earlier. AUD/JPY traded at 85.61, rising from the open of 85.49 but backing off the session high of 85.97.

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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