ANL 34.32 Decreased By ▼ -0.20 (-0.58%)
ASC 14.85 Decreased By ▼ -0.31 (-2.04%)
ASL 24.50 Decreased By ▼ -0.33 (-1.33%)
AVN 90.24 Decreased By ▼ -4.76 (-5.01%)
BOP 7.79 Decreased By ▼ -0.08 (-1.02%)
BYCO 10.05 Decreased By ▼ -0.26 (-2.52%)
DGKC 124.20 Decreased By ▼ -2.40 (-1.9%)
EPCL 56.30 Decreased By ▼ -0.86 (-1.5%)
FCCL 24.31 Decreased By ▼ -0.19 (-0.78%)
FFBL 27.60 Decreased By ▼ -0.36 (-1.29%)
FFL 16.05 Increased By ▲ 0.01 (0.06%)
HASCOL 9.74 Decreased By ▼ -0.28 (-2.79%)
HUBC 80.00 No Change ▼ 0.00 (0%)
HUMNL 6.44 Decreased By ▼ -0.01 (-0.16%)
JSCL 20.50 Increased By ▲ 0.09 (0.44%)
KAPCO 40.21 Decreased By ▼ -0.73 (-1.78%)
KEL 3.85 Decreased By ▼ -0.02 (-0.52%)
LOTCHEM 16.25 Decreased By ▼ -0.99 (-5.74%)
MLCF 46.60 Decreased By ▼ -0.31 (-0.66%)
PAEL 35.10 Decreased By ▼ -1.07 (-2.96%)
PIBTL 10.33 Decreased By ▼ -0.16 (-1.53%)
POWER 9.25 Decreased By ▼ -0.10 (-1.07%)
PPL 85.50 Decreased By ▼ -0.24 (-0.28%)
PRL 25.01 Decreased By ▼ -0.70 (-2.72%)
PTC 9.55 Increased By ▲ 0.10 (1.06%)
SILK 1.24 Increased By ▲ 0.07 (5.98%)
SNGP 38.82 Decreased By ▼ -0.54 (-1.37%)
TRG 167.40 Increased By ▲ 7.79 (4.88%)
UNITY 30.65 Decreased By ▼ -0.10 (-0.33%)
WTL 1.53 Increased By ▲ 0.10 (6.99%)
BR100 4,820 Decreased By ▼ -31.91 (-0.66%)
BR30 25,669 Decreased By ▼ -2.82 (-0.01%)
KSE100 44,978 Decreased By ▼ -208.43 (-0.46%)
KSE30 18,443 Decreased By ▼ -42.02 (-0.23%)

Coronavirus
VERY HIGH
Pakistan Deaths
15,501
5824hr
Pakistan Cases
725,602
458424hr
Sindh
269,126
Punjab
250,459
Balochistan
20,321
Islamabad
66,380
KPK
99,595
Markets

Australia, NZ dollars weaker on soft US data

  • New Zealand government bonds were slightly lower, sending yields half a basis points lower across the curve.
18 Jan 2021

SYDNEY: The Australian and New Zealand dollars were slightly lower on Monday, as a softening US economic outlook turned investors cautious even as data showed China's economy grew at a faster-than-expected pace in the fourth quarter of last year.

The Aussie eased off 14 basis points to be at $0.7694 at midday, recovering from a one-week low of $0.7679 earlier in the session. The risk-sensitive currency ended last week 0.83% lower.

The kiwi dollar was unchanged at $0.7128, down 0.72% since the beginning of the month.

Trading was subdued ahead of a US holiday on Monday while weak US data on Friday and a rising virus toll worldwide had cast doubts on global growth prospects, analysts said.

"Optimism is being challenged as the reality of a tough few months is upon us," Australia and New Zealand Banking Group analysts wrote in a note to clients. "The near-term outlook for consumption, the main driver of economic growth, is poor."

The world's second-largest economy on Monday showed it picked up speed in the fourth quarter, with growth beating expectations and remained poised to expand further this year even as the global pandemic raged unabated.

That followed global selloff of shares on Friday as hopes of a fiscal boost from a $1.9 trillion US stimulus plan were smothered by the prospect of stricter lockdowns in France and Germany and a resurgence of COVID-19 cases in China.

"The AUD has been driven by the equity market sell-off in the US on Friday. In particular, the losses in crude oil and copper," Steven Dooley, APAC currency strategist at Western Union Business Solutions said.

New Zealand government bonds were slightly lower, sending yields half a basis points lower across the curve.

Australian government bond futures were mostly unchanged.