Aussie Soars To 20-day High Against Euro
The Australian dollar edged further up against its major rivals on Monday morning in Asia following the release of Australia’s September housing finance and October job advertisements reports. The aussie advanced to near a 3-week high against the euro and a 10-day high against the US dollar and the Japanese yen.
The number of loans for owner occupied housing in Australia was up a seasonally adjusted 5.1 percent in September compared to the previous month, the Australian Bureau of Statistics said today, coming in at 65,505. That was higher than analyst expectations for a 3.0 percent increase following the revised 1.9 percent monthly decline in August.
However, total job advertisements in Australia were down a seasonally adjusted 1.7 percent on month in October, the Australia New Zealand Banking Group said today, coming in at 133,709 ads. On an annual basis, ads were down 42.3 percent.
The aussie touched a 20-day high of 1.6092 against the European common unit around 8:05 pm ET and gaining a few pips up may push the domestic unit to its highest level in more than 17 months. The euro-aussie pair that closed Friday’s trading at 1.6189 is currently worth near 1.61.
The Australian currency climbed to a 10-day high of 83.37 against the Japanese yen at this time, compared to 82.55 hit late New York Friday. The aussie-yen pair is presently worth 83.32 with 84.3 seen as the next target level.
Extending its recent rally, the Australian dollar advanced to 0.9267 against the US dollar around 8:00 pm ET and this set the highest level for the pair since October 30. The next upside target for the aussie-buck pair is seen around the 0.93 level. The pair was worth 0.9176 at Friday’s close.
