Australian Dollar Rises with Higher PPI
The Australian dollar rose today after the report showed the Producer Price Index rose more than forecast in the third quarter.
The Australian Producer Price Index (PPI) advanced from 0.3 percent to 1.3 percent in the third quarter of this year. The traders expected more moderate growth by 0.6 percent. The Australian dollar also rose as the report this weak expected to show that the inflation accelerated.
AUD/USD advanced from 0.9846 to 0.9949 today as of 9:09 GMT.
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Earlier News About the Australian Dollar:
- Aussie Pares Losses on Outlook for Interest Rates Hike (2010-10-20)
- Chinese Interest Rates Hike Drives Loonie Down (2010-10-19)
- Aussie Retreats After Reaching Parity with Greenback (2010-10-15)
- Aussie Hits New Record, Trades Near Parity with Greenback (2010-10-14)
- Aussie Reaches Record vs. Greenback on Employment Report (2010-10-07)