Tuesday, June 17, 2014

Australian dollar

The Australian dollar has posted losses on Tuesday, as the pair trades in the low-0.93 range early in the North American session. On the release front, the RBA released the minutes of its last policy meeting, and New Motor Vehicle Sales posted a modest gain of 0.3%. In the US, Building Permits softened in May but CPI releases beat their estimates.
The news out of the US was mixed on Tuesday. Building Permits dropped to 0.99M, well below the estimate of 1.07M. On the inflation front, CPI moved up modestly, posting a gain of 0.3%. This was the strongest gain we’ve seen since January 2013. CPI followed suit, climbing to an eleven-month high. The index rose to 0.4%, beating the estimate of 0.2%. Meanwhile, Building Permits dropped sharply to o.99M, well below the estimate of 1.07M.