Aussie dollar on the up in early trade

THE Australian dollar was on the rise early this morning on the back of  trade deficit data released yesterday.

Figures released by the Australian Bureau of Statistics showed a narrowing in the deficit to $284 million in September, from $693 million in August. 

Retail trade and capital city house price figures were also strong, as were building approvals numbers released last week.

The stronger economic data saw the Australian dollar trading at 95.30 US cents, At 0700 AEDT today, up from 95.18 cents on Wednesday.