AUD/USD Slides Down Amid Release of Mixed Economic Data
Nov, 30th 03:16
The Aussie fell in Asia on Monday after mixed data on the state of demand in the economy, though a slightly upbeat signal was seen in private sector credit.
AUD/USD traded at 0.7175, down 0.22%, while USD/JPY changed hands at 122.78, down 0.02%, after strong retail sales offset weaker industrial output.
Australia’s business inventories for the third quarter, rose 0.1% as expected month-on-month, while company gross operating profits gained 1.3%, better than the 1.0% seen quarter-on-quarter, and housing credit for October rose 0.6% as expected and private sector credit rose 0.7%, better than the 0.6% month-on-month gain seen.
Also in Australia, the MI inflation gauge showed a reading of 0.1%.
Earlier, in Japan, industrial production for October rose 1.4% month-on-month, below the 1.9% gain seen, while retail sales jumped 1.8%, well above the 0.8% year-on-year increase expected.
New Zealand business confidence for November compiled by ANZ Bank came in at 14.6%, down from the 15% seen, but well above the 10.5% in October.
In the week ahead, investors will focus on Friday’s U.S. nonfarm payrolls report for November, the last jobs report before the Federal Reserve decides on interest rates at its December 15-16 meeting.