Aussie rises, shrugs off weak economic data

2019-12-02 23:54:11 GMT (Economies.com)
Aussie rises, shrugs off weak economic data

The Australian dollar rose against the greenback today, despite the release of weak data and negative remarks by President Trump on the trade talks.

 

President Donald Trump said that Beijing still wants a trade deal but his administration "will see what happens" in the coming period."

 

US Trade Secretary Wilbur Ross said the Trump administration is ready to increase the tariffs on imports from China if no trade deal is reached.

 

The Australian economy released data today showing that building approvals fell by 8.1% last month, lower than forecasts of a drop by 1%.

 

Companies' operating profits also fell 0.8%, lower than forecasts of growth by 1%, and commodity prices fell by 5%.

 

AUD/USD rose by 0.8% to 0.6819 as of 17:05 GMT, and hit an intraday high of 0.6823 and a low of 0.676..

 
 
 
  Symbol Last Change Chg.%
1.1136
0.0074
0.6649%
1.3172
0.0035
0.2664%
Tadawul
8005.77
-127.95
1.57%
16.909
0.337
2.030%
58.995
-0.115
0.195%
64.15
0.43
0.67%
1477.450
17.605
1.206%
 
 
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