The Euro (EUR) has fallen by -0.2% against the Australian Dollar (EUR/AUD) today, mainly on account of the outcome of the Australian Employment results for December, which were released much earlier.
Australian Results Bolster Antipodean Currency ahead of Imminent German GDP
The Australian Dollar’s (AUD) value has been pushed up today by the result of the earlier Employment Change and Unemployment Rate results for December. The former category saw a decline of -1k persons, but this failed to increase the Unemployment Rate to 5.9% as had been forecast; instead, the figure simply remained at a preferable 5.8%.
In the near future, the pairing is likely to be affected by Germany’s annual GDP result for the previous year, which was expected to rise from 1.6% to 1.7% at the time of writing.
Earlier…
The Euro (EUR) has fallen by -0.9% against the Australian Dollar (EUR/AUD) today, although this is less due to the common currency falling and more to the ‘Aussie’ (AUD) getting a major boost from developments in China.
Unexpected Chinese Results Shore Up Australian Dollar (AUD) against Rivals Today
The Australian Dollar (AUD) has rallied this morning on better-than-expected results from China; the Chinese Trade Balance surplus rose in December from 343.10bn to 382.05bn, while the Exports figure for the same month also rose from -3.7% to 2.3% against expectations of a further decline.
Earlier…
The Euro to Australian Dollar (EUR/AUD) exchange rate has fallen slightly today, while the Euro’s performance has been slightly mixed elsewhere. The Australian Dollar (AUD) has been hampered immensely, having struggled with Chinese concerns last week and running straight back into the commodity crisis this week.
EUR/AUD Exchange Rate News: Recommendations from EC for Increased Eurozone Risk Taking Unsettle Investors Today
The Euro (EUR) has made middling movement over the course of today, with the Eurozone having published little domestic data of note to generate either uptrends or downward movement. Outside of direct input, the Euro has been influenced by yesterday’s decline in the Eurozone Sentix Investor Confidence score for January, along with today’s call from the European Union executive that the currency bloc countries should engage in more economic risk sharing between each other.
The idea was not particularly well received among Eurozone nations, with Germany in particular objecting on the grounds that overall risks to the currency bloc should be reduced before it would engage in the desired ‘ever-closer union’.
The Euro has slipped marginally against the Australian Dollar (EUR/AUD) today and printed a worse loss of -1.6% against the South African Rand (EUR/ZAR), but has also advanced by 1% against the Pound Sterling (EUR/GBP). These fragmented results come in contrast to last week’s more solid single currency gains.
Australian Dollar (AUD) Out of the Frying Pan, Into the Fire with Recurrent Commodities Crisis
The Australian Dollar (AUD) has actually fared relatively well today, although this comes as a contrast to the turbulent domestic situation that the ‘Aussie’ is currently facing.
Last week the Australian economic discussions were dominated by investor concern over the effects of China’s fragmenting situation, while this week the focus has shifted to the antipodean nation’s struggle to shore up its ruptured mining industry. Precious metal prices are down across the board and in an alarming development, it is predicted that if Gindalbie Metals fails to stay afloat in a time when the price of iron ore is historically low, this could deprive the nation’s economy of around AUD$2bn.
The Australian Dollar has edged up against the Euro (AUD/EUR) today and made additional gains of 0.3% against the Canadian Dollar (AUD/CAD) and 1% against Pound Sterling (AUD/GBP).
EUR/AUD Exchange Rate Forecast: Eurozone Industrial Data Out Tomorrow Ahead of Australian Employment Stats
Tomorrow will see the release of the Eurozone’s slowdown-predicted annual Industrial Production result for November in the morning, while early on Thursday, the pessimistically forecast Australian Employment figures for December will be announced.
Current EUR, AUD Exchange Rates
The Euro to Australian Dollar (EUR/AUD) exchange rate was trending in the region of 1.5526 and the Australian Dollar to Euro (AUD/EUR) exchange rate was trending in the region of 0.6441 today.
