The Australian dollar is climbing

The
Australian dollar is climbing.

The currency is up by 0.6% at .7678 per dollar as of 7:39 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.

“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 7:42 a.m. ET:

  • The British pound is up by 0.7% at 1.2269 against the dollar after data showed that British CPI rose 1.0% year-over-year in September, above expectations of a 0.9% increase, and by 0.2% month-over-month, compared to expectations of a 0.1% rise.
  • The Russian ruble is up by 0.4% at 62.8547 per dollar, while Brent crude oil, the international benchmark, is up by 0.7% at $51.88 a barrel.
  • The Japanese yen is little changed at 103.97 per dollar.
  • The US dollar index is up by 0.2% at 97.74 ahead of CPI data, which will be out at 8:30 a.m. ET, and the NAHB Housing Market Index, which will be out at 10 a.m. ET.

NOW WATCH: LIZ ANN SONDERS: The most unsettling outcome for the markets would be a surprise Trump win

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.