While China’s trade surplus was above market expectations, growth of both imports and exports was below forecasts. Australia’s data was not particularly stellar either as the number of building approvals slumped by 13.4% in March from February on a seasonally adjusted basis. Yet not all reports were bad, as business confidence reported by National Australia Bank climbed from 6 to 13 in April, hitting the highest level since 2010.
AUD/USD traded at 0.7407 as of 9:20 GMT today, close to its opening level, after falling to 0.7386 intraday. EUR/AUD slumped from 1.4859 to 1.4774 as the euro traded broadly lower against other currencies after opening sharply higher.
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Post tags: AUD/USD, Australia, Building Permits, Business Confidence, China, Dollar, EUR/AUD, National Australia Bank, Trade Balance
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