The Australian dollar continued to demonstrate weakness as risk appetite was slowly coming off markets. Domestic macroeconomic data was weighing on the currency further as the consumer sentiment deteriorated sharply. And while China’s consumer inflation was accelerating, painting a positive picture of the economic health of Australia’s biggest trading partner, that led to concerns that Beijing may withdraw stimulus if prices continue to rise at a fast pace.
The Australian dollar was surprisingly strong today despite adverse fundamentals, which were including poor macroeconomic data, the negative market sentiment, and the dovish monetary policy outlook.
The Australian dollar was under pressure today from the wage inflation miss. News from China did not do the currency any favors either.
The Australian dollar was mixed on Wednesday. The currency was flat against such rivals as the US dollar and the Japanese yen after swinging back and forth between gains and losses, fell versus the euro, but gained on the Swiss franc.
The Australian dollar demonstrated good performance today as news from Australia was good, providing support to the currency. Judging by the gains of commodity currencies and lack of demand for safer ones, the market sentiment was relatively optimistic, which is surprising considering that recent news from around the world gave no reason for optimism.
The Australian dollar behaved similarly to its New Zealand counterpart today, falling intraday but rebounding later. Domestic macroeconomic data was not good, but that did not prevent the Aussie from bouncing.
The 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 Australian dollar gained today amid risk appetite caused by hopes for a successful outcome of trade negotiations between China and the United States. Positive domestic macroeconomic data also helped the Australian currency.
The Australian gained against most of its major rivals today, with the exception of the euro. News from Australia itself was not particularly supportive, but the currency profited from the positive market sentiment caused by the news from Great Britain.
The Australian dollar rebounded today following two days of losses despite somewhat mixed domestic macroeconomic data. Today’s bounce was not enough to counter yesterday’s decline, though.
