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The Data that shook the AUD/USD earlier today

If you are looking around for reasons to explain the slide in the AUD/USD and AUD/JPY today then look no further than some building data released earlier. This was the latest Australian building approvals data. That had previous shown a rise of 1.6% and was expected to rise by around 1.1% in December. Well, it actually fell by a whopping 9.5%. That was a huge miss and something that has weighed on the Australian currency since the release. The AUD/USD closed in the US last night at 0.6568, which was not especially positive in relative terms and this data has sent the AUD/USD down to a low so far today, at 0.6519. The corresponding move lower in the AUD/JPY has been integral to that too. The AUD/USD is still under pressure right now and yet to show much of a bounce from that current session low, trading right now at 0.6522
 

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