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AUD Sees Downtick after Bullish PPI Data
The Australian dollar (AUD) was seen trading moderately lower versus most other currencies this morning after inflationary data this morning caused a stir in Pacific markets. The Aussie has been experiencing several wide swings lately from the various shifts into and away from riskier assets. Traders witnessed a turn towards safety after last Friday's economic reports, but sentiment appears mixed as of this morning.
The latest moves have helped to lift the AUD as traders turned to its high interest rates in order to seek profits in higher yielding assets like the AUD, NZD and Scandinavian currencies. The producer price index (PPI) published this morning beat forecasts, but so far has pushed down on the Aussie as traders had priced in positive growth ahead of time. The profit-taking could explain part of this recent downtick, but it doesn't appear that it will last through the day.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 07/25 | ||||||||
| JPY |  BoJ Gov Shirakawa Speaks | * | * | * |  | |||
| 00:50 | JPY | CSPI | y/y | -0.9% | -0.9% | -0.7% |  | |
