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Australian Dollar Weakens on Poor Data, Rebounds Later

August 29, 2019 at 17:09 by Vladimir Vyun

Australian 20-dollar bill with a 1 AUD coinThe Australian dollar was largely following the footsteps of its New Zealand counterpart today, falling initially during the Thursday’s session due to poor domestic data but rebounding later on the improving market sentiment before weakening yet again afterward. The Aussie did a better job of retaining its gains than the kiwi, though.

The Australian Bureau of Statistics reported that private capital expenditure fell by 0.5% in the June quarter from the previous three months instead of rising by 0.4% as economists had predicted. The drop in the March quarter got a positive revision from 1.7% to 1.3%.

AUD/USD was little changed at 0.6730 as of 17:06 GMT today after rising to the high of 0.6753 earlier. EUR/AUD declined from 1.6449 to 1.6416, retreating from the session high of 1.6501.

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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