AUD/USD sags on dismal data

AUD/USD sags on dismal data

On Wednesday, the Australian dollar went down versus its American rival following the publication of dismal Australian data. Meanwhile, the New Zealand dollar didn’t change because market sentiment on the US currency was still fragile.

The currency pair AUD/USD edged down 0.59% hitting a five-month minimum of 0.7586.

A bit earlier Wednesday, the Australian Bureau of Statistics informed that wage prices climbed 0.5% during the third quarter, confounding hopes for a leap of 0.7%.

Year-over-year, wage prices tacked on 2% for the last quarter versus expectations for a 2.2% increase.

The currency pair NZD/USD was intact, demonstrating an outcome of 0.6876.

Meanwhile, uncertainty over the fate of a key American tax overhaul kept putting pressure on the US currency notwithstanding the previous session's positive inflation report.

Tuesday’s data disclosed that in October US producer prices inched up by 0.4%, exceeding hopes for a 0.1% leap.

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