ANL 34.00 Increased By ▲ 0.90 (2.72%)
ASC 14.90 Increased By ▲ 0.55 (3.83%)
ASL 25.10 Increased By ▲ 0.62 (2.53%)
AVN 92.20 Decreased By ▼ -0.30 (-0.32%)
BOP 9.14 Increased By ▲ 0.08 (0.88%)
BYCO 9.85 Increased By ▲ 0.15 (1.55%)
DGKC 134.70 Increased By ▲ 2.51 (1.9%)
EPCL 50.62 Increased By ▲ 0.52 (1.04%)
FCCL 24.63 Increased By ▲ 0.33 (1.36%)
FFBL 25.86 Increased By ▲ 1.46 (5.98%)
FFL 15.49 Increased By ▲ 0.47 (3.13%)
HASCOL 10.56 No Change ▼ 0.00 (0%)
HUBC 86.33 Increased By ▲ 1.23 (1.45%)
HUMNL 7.02 Increased By ▲ 0.27 (4%)
JSCL 25.65 Increased By ▲ 0.40 (1.58%)
KAPCO 41.55 Increased By ▲ 2.80 (7.23%)
KEL 4.02 Increased By ▲ 0.04 (1.01%)
LOTCHEM 14.45 Increased By ▲ 0.02 (0.14%)
MLCF 46.42 Increased By ▲ 0.54 (1.18%)
PAEL 37.25 Increased By ▲ 0.55 (1.5%)
PIBTL 11.70 Increased By ▲ 0.27 (2.36%)
POWER 10.25 Increased By ▲ 0.10 (0.99%)
PPL 90.90 Increased By ▲ 1.20 (1.34%)
PRL 26.86 Increased By ▲ 0.61 (2.32%)
PTC 8.71 Increased By ▲ 0.11 (1.28%)
SILK 1.35 No Change ▼ 0.00 (0%)
SNGP 42.71 Increased By ▲ 1.31 (3.16%)
TRG 146.10 Increased By ▲ 3.00 (2.1%)
UNITY 30.20 Increased By ▲ 0.41 (1.38%)
WTL 1.41 Decreased By ▼ -0.01 (-0.7%)
BR100 4,965 Increased By ▲ 76.98 (1.57%)
BR30 25,754 Increased By ▲ 477.72 (1.89%)
KSE100 45,837 Increased By ▲ 558.82 (1.23%)
KSE30 19,174 Increased By ▲ 275.54 (1.46%)

australian-nz-dollarWELLINGTON/SYDNEY: The Australian and New Zealand dollars were holding ground on the US dollar on Tuesday, but nursed losses against the yen due to Japanese fund repatriation ahead of their half-year book-closing.

 

The Aussie edges up to $1.0438, from $1.0412 in early trade, having bounced from $1.0387 offshore. Key support at $1.0340, the 200-day MA and 61.8 pct of the $1.0165/$1.0625 move with resistance at $1.0564, last week's high.

 

The NZ dollar firm around $0.8237 after an overnight two-week low of $0.8184.

 

Near term support $0.8198, ahead of $0.8184. First topside hurdle $0.8250, then $0.8282.

 

Investors cautious after poor European data and weak earnings forecast from Caterpillar which added to global growth worries.

 

Antipodeans pressured by a broadly stronger yen as Japanese investors repatriate profits ahead of half-year book-closing this week.

 

Aussie at 81.15 yen, having lost more than a yen in two sessions. Support seen at 80.96, the 61.8 pct of the September climb, ahead of 80.80, the cloud base and 80.65, the 100-day MA. A break below would target a retracement to 79.65.

 

The kiwi at 64.11 yen, not far from a low of 63.76 on Monday. Support seen at 63.85, the 61.8 pct of the September climb, ahead of 63.51, the 50-day MA.

 

The Aussie steady against the kiwi at NZ$1.2664 , well off 5-month lows of NZ$1.2561 hit Friday.

 

Markets getting confident the RBA will deliver a rate cut next week with interbank futures implying a two-in-three chance of an easing in the 3.5 pct cash rate, while fully pricing a move in November.

 

National Australia Bank changed its call on rates on Monday predicting cuts in November and February due in part to the high currency, a slowdown in China and weaker commodity prices.

 

Yet, the Aussie remains a major beneficiary of foreign flows into the nation's government bonds as Australia is one among a shrinking pool of countries still rated triple-A by major agencies.

 

Australian debt futures gain, with the three-year contract up 0.03 points to 97.500 and the 10-year contract 0.045 points higher at 96.915.

 

Australia's banks are well placed to cope with any shocks from abroad, the Reserve Bank of Australia (RBA) said in its semi-annual Financial Stability Review. It also warned Europe's debt crisis remained a threat to the stability of the global financial system.

 

Later RBA Assistant Governor Guy Debelle gives a speech on credit and trust in the financial system.

 

NZ government bonds firmer sending yields 3 basis points lower along the curve.

 

Copyright Reuters, 2012