Aussie Partly Gives Back Previous Session`s Gain In Early Asian Deals On Thursday, Thursday, July 26, 2007 1:31:31 AM
During the early Asian deals on Thursday, the Australian dollar partly gave back the gains posted in the late New York trading against its major counterparts. No major key economic data was released from the Australian economy during the session.The Japanese June corporate service price index data released at 7:50 pm ET is likely to have an effect on trading in the Aussie against the Yen. Japan`s Corporate Service Price Index or CSPI rose 0.1% in June to 94.3 from the previous month. On year-over-year basis the index rose 1.4%, in line with analysts` expectation.
German IFO - Business climate for July is what the data expected by the traders during the upcoming European session. The US June durable goods orders and the new home sales data are slated for later in the morning.
The Australian dollar drifted higher versus U.S. currency during late Wednesday in New York and collected as much as 0.8864 at 7:30 pm ET. But the Aussie dropped in the early Asian deals on Thursday and touched 0.8828 by about 10:45 pm Eastern Time. Thereafter, the pair gained slightly and as of 1:30 am ET, it was quoted at 0.8846.
On late Wednesday in New York, the Australian dollar ticked up against its European counterpart. However, in the early Asian deals on Thursday, the Aussie edged down slightly and thus it moved from 1.5482 to 1.5532 at about 10:45 pm ET. Soon after, the Aussie strengthened slightly and collected 1.5500 as of 1:30 am Eastern Time.
The Australian currency showed strength versus the Canadian dollar in the late hours on Wednesday in New York. After fetching a high of 0.9229 at 7:30 pm ET, the pair traded sideways but it lost ground within an hour. At about 11:10 pm Eastern Time, the Aussie made a brief spike higher but it weakened again soon after. As of 1:30 am ET Thursday, the pair was worth 0.9210.
Against the Japanese Yen, the Australian dollar advanced during late Wednesday in New York. But the pair moved in an opposite direction in the early Asian session on Thursday. The Aussie thus declined from 106.87 to 106.35 at 10:45 pm ET. The pair then traded slightly higher and as of 1:30 am Eastern Time, it fetched 106.59.
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posted by Kalin Tasev @ 12:21 AM
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