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The Aussie is growing despite the statistics


13 July 2021

AUDUSD is rising on Tuesday afternoon despite weak data from Australia. The Australian Dollar managed to grow against the USD after falling for a couple of days. The current quote for the instrument is 0.7477. The statistics published by Australia in the morning were disappointing. The NAB Business Confidence showed 11 points in June after being 20 points in the previous month. 

The components of the report show that business conditions saw a sharp fall (24 vs 36 points), as well as trading (35 vs 45 points), profitability (25 vs 39 points), and employment (17 vs 25 points).  Such a drawdown in the data occurred mostly due to aggravation of the epidemiologic situation in New South Wales.

However, the negative impression from the Australian statistics was slightly eliminated by strong numbers from China, where both import and export improved in June.

#source

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