EUR/AUD Exchange Rate Up Despite Poor German Industrial Figures

The Euro Australian Dollar (EUR/AUD) exchange rate is up, and is currently trading at AUD$1.5775, despite today’s release of Germany’s industrial figures for October showing a decrease.

However the ‘Aussie’ was pummelled yesterday after US-China trade tensions reignited with the arrest and possible extradition to the US of Chinese telecoms giant Huawei’s Chief Financial Officer, Wanzhou Meng.

This arrived as Australia’s trade balance for October dropped, further weakening the ‘Aussie’ against the Euro (EUR).

The Euro meanwhile was dented by yesterday’s release of Germany’s factory orders figures which showed a decrease on last year’s figures.

Many EUR investors have also remained cautious as the EU awaits Italian Prime Minister Giuseppe Conte’s promised revision of Italy’s budget deficit, with fears that the European Commission will reject it and press on with its disciplinary procedures./euroexchangeratenews.co.uk

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