Inflation Slows in Australia, AUD Drops for Second Day
The Australian dollar today extended its drop for the second day after the government report showed the inflation slowed in the third quarter of this year.
The Australian consumer price index fell to 0.6 percent in the third quarter from 0.9 percent in the second quarter. The leading index declined 0.1 percent. The fundamentals confirmed the economic slowdown and reinforced the prospects for an interest rate cut by the central bank.
AUD/USD fell from 1.0426 to 1.0367 as of 5:22 GMT today. AUD/JPY declined from 79.33 to 78.81.
If you have any questions, comments or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.
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Earlier News About the Australian Dollar:
- Australian Dollar Gains as Optimism Strengthens (2011-10-24)
- Aussie Gains as Forex Traders Look for Higher Yields (2011-10-19)
- China's Economic Growth Helps Aussie, RBA Signals About Rates Cut (2011-10-18)
- Aussie Heads Lower on Possible Rate Cut (2011-10-17)
- AUD & NZD Feel Weight of Spain's Downgrade (2011-10-14)
2 Comments
Just wondering when you all think the best time to purchase aus dollars would be in the next week, from euro!!!!
It’s already a good time.