The Australian dollar is climbing


The Australian dollar is still up, although has retraced some of its earlier gains.

The currency is up by 0.5% at .7664 per dollar as of 11:31 a.m. ET.

“AUD is being supported by a rise in Australia’s terms of trade, and the prospect Australia’s trade deficit will soon turn to a trade surplus, narrowing Australia’s current account deficit,” Richard Grace, chief currency strategist at the Commonwealth Bank, told Business Insider Australia earlier on Tuesday.

“AUD/EUR, AUD/CHF, and AUD/CNH all moved further towards the top of their twelve-month trading range, with AUD/EUR reaching a 16 month high of 0.6961.”

As for the rest of the world, here’s the scoreboard as 11:32 a.m. ET:

    The British pound is up 1.1% at 1.2315 against the dollar. Earlier, data showed that British CPI rose 1.0% year-over-year in September, above expectations of a 0.9% increase. Additionally, prices rose 0.2% month-over-month, compared to expectations of a 0.1% rise.The Russian ruble is higher by 0.3% at 62.9126 per dollar, while Brent crude oil, the international benchmark, is down by 0.3% at $51.36 per dollar. The Turkish lira touched a fresh record low against the US dollar, dipping to 3.1140 around 8:58 a.m. ET. The currency is now down by 0.1% at 3.1001 against the greenback. The US dollar index is little chanced at 97.71 after data from the Bureau of Labor Statistics showed that CPI rose 0.3% month-over-month and 1.5% year-over-year – both figures in line with expectations. Additionally, the National Association of Homebuilders said that its housing market index slipped by two points to 63, in line with what economists had expected. The Japanese yen is little changed at 103.82 per dollar.