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JPY Daily News
AUD Continues to Flop as Housing Dips Further
The Australian dollar (AUD) was seen trading significantly lower versus most other currencies this morning after poor housing data drove the appeal of the Aussie even lower. Being linked to the value of commodities, the Aussie experienced an unexpected downturn during a period when shifts away from the US dollar should have helped drive its values higher. The Aussie has been experiencing several wide swings lately from the various shifts into and away from riskier assets, which could explain this week's unpredictable behavior.
The latest moves have helped to push down on the AUD as traders pulled away from commodity-linked assets as a result of the plummeting Dow Jones index. Coupled with the pessimistic housing reports from last week, the Australian economy appears to be contracting this quarter, particularly in the housing sector. If that is indeed the case, the Aussie will likely continue to take losses this week despite a move away from the US dollar.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 08/10 | ||||||||
| 00:50 | JPY |  Core Machinery Orders | 3.0% | 1.9% | 7.7% |  | ||
