31 Jan 2014
AUD/USD rises to test weekly highs
FXstreet.com (Córdoba) - The AUD/USD continues to move with an upside bias and early in Asia broke above yesterday’s highs and climbed to test weekly highs. Recently reached a fresh 2-day highs at 0.8819, extending the rally from 0.8710.
Yesterday the Aussie was among the strongest currencies and continues with the same tone on Friday. The AUD/NZD is also rallying in Asia, testing 1.0800 and helping the AUD/USD.
Aussie remains strong despite economic data
The pair hit daily highs despite economic data from Australia that showed a decline in the PPI. The price index rose at a rate of 0.2% during the fourth quarter, below the 0.9% expected. It was also reported that the credit to the private sector rose in December 0.5%, slightly above expectation of a 0.4% gain.
Yesterday the Aussie was among the strongest currencies and continues with the same tone on Friday. The AUD/NZD is also rallying in Asia, testing 1.0800 and helping the AUD/USD.
Aussie remains strong despite economic data
The pair hit daily highs despite economic data from Australia that showed a decline in the PPI. The price index rose at a rate of 0.2% during the fourth quarter, below the 0.9% expected. It was also reported that the credit to the private sector rose in December 0.5%, slightly above expectation of a 0.4% gain.