The Australian Dollar has risen slightly in Asia overnight and in Europe this morning but hasn’t quite reach Tuesday’s high of USD0.7679 or last Friday’s 0.7688 peak. The best level seen so far today is 0.7675.
Overnight, there have been no ‘traditional’ economic data releases though the Australian Bureau of Statistics has had an outbreak of festive fun. In a Press Release entitled “Seasonally adjusted greetings from the ABS”, it looks at some of the numbers around Christmas. It noted “Many people are travelling at this time of year and in 2016, 47,800 Australians left for an overseas trip on Christmas Day itself”. ABS data shows the most popular overseas short-term travel destinations for Australians were New Zealand, the USA and Indonesia. In 2016-17, Australians spent on average $818 per domestic trip (with at least one overnight stay), and around $115 on a domestic day trip. International visitors, meanwhile, spent on average $4,347 per trip to Australia.
As for Christmas, the Household Expenditure Survey shows that on average Australians spent $202 a year on toys and $27 per year on Christmas decorations. The normally dry statisticians said, “Santa will be busy this Christmas visiting the 2 million Australian families with children under the age of 12. The 2016 Census shows that most children live in New South Wales (1.2 million), Victoria (947,408) and Queensland (795,908).”
We’ll leave the last word on population to the ABS without further comment: “if you are celebrating your birthday on Christmas Day you are in rare company as the last 10 years of data shows it is the second least common birthday, after February 29. However, the Christmas and New Year holidays are the most likely time for babies to be conceived.
The AUD opens in North America this morning at USD0.7670 with AUD/NZD at 1.0995 and AUD/CAD0.9866.