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Australian Dollar Strong Despite Negative Fundamentals

December 19, 2018 at 11:20 by Vladimir Vyun

A heap of Australian dollarsThe Australian dollar was strong today, rising against almost all of its major rivals with the exception of the euro, shrugging of negative fundamentals.

The Leading Economic Index in Australia fell 0.1% in November after rising at the same rate the month before. Together with the risk-negative market sentiment, it looked like fundamentals should drag the currency down. Yet it was not the case as the Aussie demonstrated surprising resilience.

AUD/USD advanced from 0.7181 to 0.7198 as of 11:09 GMT today. EUR/AUD was up from 1.5816 to 1.5851.

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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