Monday, April 30, 2007

Aussie Uncertain To Greenback And Loonie, Strengthens To Other Majors; Early Monday, Monday, April 30, 2007 6:02:16 AM

The Australian dollar showed an uncertain trend versus the Greenback and the Loonie during early Monday trading in New York. On the other hand, the Aussie drifted higher against the Euro and the Pound and this came ahead and amid the releases of the German March retail sales, various Euro-Zone economic data and the British March BBA mortgage approvals.

The US March personal income and expenditure, the Chicago purchasing managers index for April and the Canada February GDP are slated for later in the morning.

In the late evening hours on Sunday, the Australian dollar trended lower against its U.S. counterpart. Off 0.8256 by about 8:40 pm ET, the Aussie bounced back most of its losses and hit a high of 0.8283 by about 11:20 pm ET. Soon after, the pair dropped slightly. However, in the small morning hours on Monday, the Aussie showed an uncertain trend and it was worth 0.8275 against the Greenback as of 6:00 am Eastern Time.

The European currency started drifting higher versus the Australian dollar at about 4:45 pm ET Sunday. At about 8:40 pm ET, the pair weakened slightly but it gained momentum again after about a couple of hours. The uptrend helped the euro to collect as much as 1.6500 by about 1:15 am ET Monday. The pair made a steep fall thereafter and has been moving further lower lately. The German March retail sales and various Euro-Zone economic data which were released during the session weakened the euro further. As of 6:00 am Eastern Time, a Euro fetched 1.6428 Aussie.

The British currency spiked higher against the Aussie on Sunday evening in New York and hit a high of 2.4139 at about 8:40 pm ET. The Pound then traded sideways and extended the same trend into the overnight deals on Monday. At about 3:15 am ET, ahead of the release of the British March BBA mortgage approvals, the Pound started ticking down. The pair lost ground further following the release too and as of 6:00 am Eastern Time, a Pound traded at 2.4057 Aussie.

Against the Loonie, the Aussie showed weakness during the evening deals on Sunday, but by about 7:40 pm ET the pair strengthened slightly. However, the Aussie ticked down again soon after and fetched a low of 0.9213 by about 8:55 pm ET. The pair then ticked higher and carried over its uptrend in the very early deals on Monday. However, at about 2:50 am ET, the Aussie gave back some of its gains and then showed choppy trading. As of 6:00 am Eastern Time, an Aussie was quoted at 0.9237 Loonie.
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