Australia
Thursday, 24 January 2013 11:52
505
WELLINGTON/SYDNEY: The Australian dollar lost altitude on its US counterpart on Thursday as a failure to rally on upbeat Chinese data led speculators to cut back on long positions, though the New Zealand currency had no such trouble.
The Aussie eased back to $1.0513, from an early $1.0552, while its kiwi cousin crept ahead to $0.8430, from $0.8410.
"It looks exhausted, having failed at $1.0600 for a week now," said David Scutt, a trader at Arab Bank Australia.
"If it can't rally on strong Chinese data, it means it's due for a pull back," he said, seeing it testing $1.0500 or $1.0470, both major retracement levels.
The Aussie got only a brief lift from the latest HSBC survey of China's factory sector which showed growth accelerated to a two-year high in January. China is a major export market from Australia and New Zealand and a pick up there would be supportive of earnings and ...
WELLINGTON/SYDNEY: The Australian and New Zealand dollars briefly rose against the yen on Tuesday after the Bank of Japan delivered its most radical action yet to beat years of economic stagnation. But both Antipodean currencies quickly fell prey to profit taking as markets digested the bold moves that had pretty much been leaked to the media over the past few days.
The BOJ doubled its inflation target to 2 percent, to be achieved as soon as ...
WELLINGTON/SYDNEY: The Australian and New Zealand dollars marked time on Tuesday as the marked tensed for the outcome of a Bank of Japan meeting that just might deliver the aggressive policy needed to revive the world's third-largest economy.
* The Antipodeans steady on the yen after profit taking knocked them off four year highs hit on Friday. Markets have already factored in the BoJ at least topping up its asset-buying and lending programme by another 10 ...
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