Aussie Dollar Dips on Lower Consumer Inflation & Falling Job Ads

The Aussie dollar dipped in early trading on Sunday night on news of weak Job Advertisement figures and falling Consumer Inflation readings. The Australia and New Zealand Banking Group (ANZ) said job ads fell 0.7 in February after showing a rise of 3.9% in January.

The Melbourne Institute Monthly Inflation Gauge, which shows changes in the prices of goods and services in Australia, came in at -0.3% for February.

Additionally, Australian retail sales climbed 0.4% in January - a 3.3% rise when compared with figures from January of 2016, “The seasonally adjusted estimate rose 0.4% in January 2017. This follows a fall of 0.1% in December 2016 and a rise of 0.1% in November 2016.,” said the Australian Bureau of Statistics.

The economic news releases pushed the AUD/USD exchange rate lower on Sunday; during the Aussie Forex session, the Australian dollar dipped 0.34% vs. the USD to a low of 0.75706. At press time, the Aussie has recovered some of the losses and is trading around 0.7582:

Aussie banknotes photo by Jenn Sterling