Wednesday, 08 May 2013 03:57
Posted by Asad Naeem
SYDNEY/WELLINGTON: The Australian dollar struggled near a two-month low against the US dollar on Wednesday as investors speculated that more interest rate cuts were in the cards after the Reserve Bank of Australia cut its official rate to a record low on Tuesday.Aussie trades at $1.0185, having fallen more than 0.5 percent to $1.0155 offshore, its weakest since early March. Bids suspected around $1.0150, where option barriers lie, are seen offering some near-term support.The New ...
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SYDNEY/WELLINGTON: The Australian and New Zealand dollars were near multi-month lows on Friday after being battered by the clearest hint yet that the US Federal Reserve's loose money policies could start coming to an end late in the year.The Australian dollar lower at $0.9820 from $0.9900 late on Thursday, having touched a fresh 11-month low of $0.9796. It has fallen more than 5 percent so far this month.Little support seen before the June trough of $0.9580 with resistance at $0.9840.The kiwi harder-hit at $0.8166 from $ 0.8252 late on Thursday, having skidded to $0.8137, a six month low. It has plunged 6 percent since its mid-April peak of $0.8676.Support seen initially around the overnight and six-month low at $0.8135/40 and below that $0.8110, with resistance at $0.8200.US dollar recovers to trade higher against the euro and yen in a volatile session.The bounce higher came after John Williams, president of the ...
SYDNEY/WELLINGTON: The Australian dollar was labouring against a firmer US dollar on Thursday as soft commodity prices weighed, while the New Zealand dollar bounced off two-month lows ahead of the annual government budget.NZ annual budget due at 0200GMT with expectations the government will lift its forecast of economic growth and budget surpluses from 2014/15.The Aussie struggling at $0.9896, having hit a fresh 11-month low of $0.9852 overnight. Charts show the recent sharp decline seen as ...
TORONTO: The Canadian dollar held steady against its US counterpart in quiet trading on Monday, finding support from US retail sales figures that signaled underlying strength in the economy.US retail sales in April rose unexpectedly, leading forecasters to bump up second-quarter growth estimates."Considering some of the other commodity currencies have been under so much pressure recently, the Canadian dollar is holding in quite well," said David Bradley, director of foreign exchange trading at Scotiabank, attributing ...
