The Australian dollar demonstrated mixed performance today as economic data from Australia matched analysts’ predictions. The Aussie was flat against the US dollar, rose versus the euro and fell against the Japanese yen.
Australia’s Producer Price Index and private sector credit were in line with expectations, giving no edge to the Australian currency. The Reserve Bank of Australia will hold a policy meeting next week, and there are plenty of speculations regarding the central bank’s decision. While the majority of economists believe that the RBA will keep interest rates unchanged, some speculate that an interest rate cut is possible. Such talks weigh on the Australian currency.
AUD/USD traded at the opening level of 0.7759 as of 18:22 GMT today. EUR/AUD declined from 1.4578 to 1.4549 while AUD/JPY dropped from 91.80 to 91.12.
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