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Australian Dollar Benefits from Positive Macroeconomic Data

May 3, 2018 at 9:05 by Vladimir Vyun

Australian 100-dollar billThe Australian dollar gained on its major rivals today thanks to a bunch of positive macroeconomic reports released over the current trading session.

The session kicked off with not-so-good data as the seasonally adjusted Australian Industry Group Australian Performance of Services Index fell to 55.2 in April from 56.9 in March. Other reports were far better, though.

The trade balance surplus widened to A$1.53 billion in March from A$1.35 billion in February. That is instead of shrinking to A$0.68 billion as analysts had predicted.

Seasonally adjusted building permits rose 2.6% in March, more than two times the forecast increase by 1.1%. Furthermore, the previous reading got a significant positive revision from a decline by 6.2% to a drop by 4.2%.

AUD/USD rallied from 0.7491 to 0.7525 as of 8:59 GMT today. AUD/JPY advanced from 82.28 to 82.48. AUD/CHF gained from 0.7474 to 0.7509.

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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