The Australian dollar fell against other major currencies today due to poor macroeconomic data in Australia as well as its biggest trading partner — China.
The Westpac-Melbourne Institute Consumer Sentiment Index for Australia fell 0.6% in April after rising 0.2% in March. China’s Consumer Price Index rose 2.1% in March, year-on-year, slowing from the 2.9% inflation in February and missing the average forecast of a 2.6% increase. Meanwhile, the Producer Price Index rose 3.1%, also slowing from the previous month’s inflation rate of 3.7% and slightly missing the analysts’ median estimate of a 3.2% increase.
AUD/USD ticked down from 0.7759 to 0.7751 as of 12:30 GMT today. AUD/JPY declined from 83.18 to 82.77.
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Australian Dollar Falls After Poor Reports from Australia & China
