Westpac-Melbourne Institute — News Archive

Positive macroeconomic data helped the Australian dollar to rise overnight but the currency has trimmed its gains by now, losing them outright against some of its major peers, including the US dollar and the euro.

The Australian dollar rallied today despite lackluster macroeconomic data. The currency got support from the positive market sentiment that ignored the latest developments in the US-China trade war.

The Australian dollar dipped today following the release of a negative macroeconomic report in Australia but bounced later, trading near or above the opening level against its most-traded rivals by now.

Macroeconomic data released in Australia over the trading session was good. But unlike its New Zealand counterpart, the Australian dollar was unable to rally against any of its rivals, though managed to pare losses against some of them.

The Australian dollar dipped intraday during the Wednesday’s trading session but has bounced against most of its rivals by now and is trading near the opening level. Today’s macroeconomic data released in Australia was mixed.

The Australian dollar attempted to rally today as markets were digesting the news about escalation of the trade war between the United States and China. By now, though, the currency has lost most of its gains and is trading near the opening level.

The Australian dollar rose against most of its major rivals, though not against the euro, after Australia’s consumer sentiment improved. The gains were limited, though, as the central bank’s head confirmed that an interest rate hike is unlikely in the near future.

The Australian dollar was firm today despite underwhelming domestic macroeconomic reports released over the current trading session.

The Australian dollar remained rather vulnerable today, falling against its most-traded rivals, though it remained slightly above the opening level versus the soft Japanese yen.

The Australian dollar fell against other major currencies today due to poor macroeconomic data in Australia as well as its biggest trading partner — China.