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Australian Dollar Declines with Consumer Sentiment

March 13, 2019 at 17:45 by Vladimir Vyun

Australian dollar billsThe Australian dollar fell today, though the currency has rebounded from the day’s lows by now. The possible reason for the decline was deterioration of the consumer sentiment.

The Westpac-Melbourne Institute Index of Consumer Sentiment fell 4.8% in March after rising 4.3% in February. The report said:


The consumer mood deteriorated in March, sentiment falling to its lowest level since September 2017. With the index moving back below 100, pessimists again outnumber optimists. That contrasts with the ‘cautiously optimistic’ reads that prevailed throughout 2018 although at 98.8 the index is only ‘cautiously pessimistic’ and still above the average level recorded in 2017.

AUD/USD was flat at 0.7079 as of 17:32 GMT today after falling to the daily low of 0.7048 earlier. EUR/AUD was up from 1.5941 to 1.5963, while its session high was at 1.6011.

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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