AUD/USD Three Month High, Consumer Confidence Rises

AUD/USD is trading at 0.7721, up 0.0059. The pair is trading at the best level since late April. Market chatter about Australian economic data is making the rounds. The Westpac-Melbourne Institute Australian Consumer Sentiment for August rose to 101 versus 99.1. in July. The Australian Bureau of Statistics reported that home loans during June rose 1.2 one percent versus a decline of 0.8 percent in May. Investment lending for homes, a measure of fixed residential property loans, rose 3.2 percent in June versus a 3.9 percent rise in May. Market talk about comments from Reserve Bank of Australia Governor Glenn Stevens in his farewell speech is showing up. Governor Stevens is retiring on September 17. He will be replaced by his Deputy Governor Philip Lowe.