AGL 5.95 Decreased By ▼ -0.13 (-2.14%)
ANL 9.26 Decreased By ▼ -0.14 (-1.49%)
AVN 80.82 Decreased By ▼ -0.64 (-0.79%)
BOP 5.20 Decreased By ▼ -0.07 (-1.33%)
CNERGY 4.86 Decreased By ▼ -0.04 (-0.82%)
EFERT 81.82 Increased By ▲ 0.27 (0.33%)
EPCL 53.94 Decreased By ▼ -0.06 (-0.11%)
FCCL 14.29 Decreased By ▼ -0.11 (-0.76%)
FFL 5.93 Decreased By ▼ -0.12 (-1.98%)
FLYNG 7.44 Decreased By ▼ -0.12 (-1.59%)
FNEL 4.95 Decreased By ▼ -0.05 (-1%)
GGGL 9.18 Decreased By ▼ -0.14 (-1.5%)
GGL 16.51 Decreased By ▼ -0.19 (-1.14%)
HUMNL 6.14 Increased By ▲ 0.45 (7.91%)
KEL 2.77 Decreased By ▼ -0.02 (-0.72%)
LOTCHEM 30.81 Increased By ▲ 0.26 (0.85%)
MLCF 27.45 Decreased By ▼ -0.34 (-1.22%)
OGDC 74.27 Increased By ▲ 0.27 (0.36%)
PAEL 15.98 Decreased By ▼ -0.21 (-1.3%)
PIBTL 5.21 Decreased By ▼ -0.02 (-0.38%)
PRL 17.01 Decreased By ▼ -0.28 (-1.62%)
SILK 1.10 Increased By ▲ 0.01 (0.92%)
TELE 10.00 Decreased By ▼ -0.04 (-0.4%)
TPL 7.65 Decreased By ▼ -0.05 (-0.65%)
TPLP 19.41 Decreased By ▼ -0.36 (-1.82%)
TREET 22.72 Decreased By ▼ -0.47 (-2.03%)
TRG 146.80 Decreased By ▼ -0.55 (-0.37%)
UNITY 17.09 Decreased By ▼ -0.10 (-0.58%)
WAVES 10.33 Decreased By ▼ -0.05 (-0.48%)
WTL 1.42 Decreased By ▼ -0.04 (-2.74%)
BR100 4,330 Increased By 3.4 (0.08%)
BR30 16,296 Increased By 46.9 (0.29%)
KSE100 42,904 Increased By 23.3 (0.05%)
KSE30 15,805 Decreased By -4.6 (-0.03%)
Follow us

SYDNEY: The Australian dollar faltered on Wednesday as a bout of selling hit its New Zealand neighbour, though a solid report on the domestic economy cleared the way for another rise in interest rates this month.

The Aussie eased to $0.7160 and was threatening support at $0.7150, having repeatedly failed to crack resistance around $0.7203 over the past two days.

The kiwi took a sudden spill to $0.6488, after its failure to clear $0.6564 on Tuesday seemed to trigger a shake-out of long positions. Support now lies around $0.6450.

The Australian data showed the economy grew a stronger-than-expected 0.8% in the first quarter, keeping annual growth at a respectable 3.3%.

Price measures in the report showed inflation picking up steam across the economy, though wages were more mixed.

“All indicators show the economy to be doing well, actually very well,” said Craig James, chief economist at CommSec.

Comments

Comments are closed.

Australia, NZ dollars lose ground

'Blatant lies': ISPR rejects claims about COAS Bajwa and his family's assets

Imran’s unresolved difficulty leaves him absolutely frustrated

Govt plans to deregulate POL products’ market by 2027

Rice import: PM thanks Azeri President for 5-year tax holiday

PM welcomes prospects of ECO’s outreach to CARs

Suspected consignments, delinquent staff: FBR endorses DGI&I Sost’s enforcement action

Tax reforms recommendations to FBR: Supertax has successful large businesses: PBC

Qatar's migrant workers enjoy World Cup on the cheap

Energy conservation: stern measures on the cards

Turkish companies urged to make investments