Positive trade numbers from Australia and China initially pushed the AUD higher. Our exports rose by 3% thanks to an increase in the iron ore price and gold shipments whilst imports shrank by 0.4% leading to a reduction of the trade deficit. AUDUSD touched a three week high as Chinese imports increased by more than expected and export growth returned too.
But then the European Central Bank decided to keep interest rates unchanged and said that lacklustre growth did not warrant prolonging its €80 billion (A$118 billion) monthly asset-purchase programme, which will continue until March. The ECB boss, Mario Draghi, dismissed fears that negative interest rates hurt the banking system. Euro was the strongest currency. This intern boasted the Euro and dragged down the AUD.
The price of interlocking jigsaw mats is unaffected so far by this movement in exchange rates as the AUD remains strong. Now is a good time to purchase your EVA interlocking jigsaw mats before prices start to increase.