The ‘Aussie’ (AUD) has lost out against the Euro (EUR) of late, having been weakened by falling commodity prices and a shortage of domestic data.
The Euro, meanwhile, has been a fairly solid bet against its usual peers.
The appeal of the Australian Dollar (AUD) was lacking over ANZAC Day, with the ‘Aussie’ generally slipping against most of its usual peers. This came as an upset from a previous record high for the ‘Aussie’.
This has equated to losses of -0.3% against both the Euro (AUD/EUR) and the Pound Sterling (AUD/GBP), although gains of 0.3% against the Canadian Dollar (AUD/CAD) and 0.4% against the New Zealand Dollar (AUD/NZD) have also been seen.
Asides from the shortage of data not providing any impetus for a rally, the Australian Dollar has also been harmed by the sliding prices of platinum and copper outweighing the rise in the price of gold.
The Euro (EUR) has steadily risen in the eyes of investors recently, with gains primarily consisting of 0.6% against the Australian Dollar (EUR/AUD), 0.9% against the Canadian Dollar (EUR/CAD) and 1.2% against the Polish Zloty (EUR/PLN) and the South African Rand (EUR/ZAR).
Although yesterday saw the German IFO surveys of business climate, current assessment and expectations all disappoint, the single currency was nonetheless bolstered by news from overseas.
This originated from the US, where President Barack Obama indicated that he wished to accelerate the progress of the Transatlantic Trade and Investment Partnership (TTIP) trade deal, which could be worth billions to the US and European economies.
The near-future is unlikely to hold a great deal of movement for the Australian Dollar (AUD) or the Euro (EUR), given that neither Australian nor the Eurozone are expected to release impactful domestic data until Wednesday.
This will consist of the statically-predicted Australian inflation rate outcomes for the first quarter, as well as the German Gfk consumer confidence survey for May.
The Australian Dollar to Euro (AUD/EUR) exchange rate has been trending in the region of 0.6858 and the Euro to Australian Dollar (EUR/AUD) exchange rate has been trending in the region of 1.4584 lately.
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