Australian Dollar Rises with Mortgage Approvals & Trade Surplus
The Australian dollar went up today as the number of mortgage approvals surged and the trade surplus expanded more than predicted.
The number of mortgage approvals jumped 8.7 percent in December. This growth looks astonishing compared to the expected value of 1.6 percent and considering the decline by 3.9 percent in November. The trade balance posted a surplus of 1.98 billion in December, while the median forecast was 1.63 billion.
AUD/USD rose from 1.0101 to 1.0126 as of 12:19 GMT today.
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Earlier News About the Australian Dollar:
- Aussie Reaches Parity with Greenback as RBA Holds Interest Rates (2011-02-01)
- AUD Down as Flood Levy May Cause Pause for Rates Hikes (2011-01-28)
- Aussie Weakens vs. Greenback on Slower CPI Growth (2011-01-25)
- AUD Rises with Stocks, But Australian Economy Remains in Danger (2011-01-24)
- Chinese Inflation Fighting Weights AUD (2011-01-14)