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Australian Dollar Logs Small Gains Despite Lackluster Data

November 28, 2018 at 11:07 by Vladimir Vyun

David Unaipon on Australian 50-dollar billThe Australian dollar gained today despite disappointing domestic macroeconomic data. With that said, gains were relatively small, and the Aussie currently moves sideways.

The Australian Bureau of Statistics reported that construction work done fell 2.8% in the September quarter from the previous three months, seasonally adjusted. That is instead of rising 0.9% as experts had predicted. On a positive note, the increase in the previous quarter got a positive revision from 1.6% to 1.8%.

AUD/USD advanced from 0.7223 to 0.7236 as of 10:56 GMT today. EUR/AUD slipped from 1.5618 to 1.5602, touching the low of 1.5580 intraday.

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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