Australian Dollar Slightly Lower Across The Board, Tuesday, July 10, 2007 1:31:38 AM
The Australian dollar traded slightly lower against its major counterparts in the early Tokyo deals on Tuesday. The Australian NAB business confidence data for June which was released during the session weakened the Aussie further against the Euro and the Loonie, but it advanced slightly versus the Yen. On the other hand, the data caused very little price effect in the Aussie-Greenback pair.German June wholesale price index, French and the Italian industrial production for May are the key economic events expected during the upcoming European session.
The Canada housing starts data for June and the Bank of Canada rate decision are slated for later in the morning. The central bank is expected to raise interest rates.
The Australian dollar showed choppy trading against its U.S. counterpart on late Monday in New York. The Aussie extended the same trend in the early Asian deals on Tuesday, but by about 10:05 pm ET it ticked down. Of late, the pair has been moving further lower and as of 1:30 am Eastern Time, it was quoted at 0.8574.
On late Monday in New York, the Australian dollar ticked up slightly versus the Euro. But the gains were given back in the early Asian session on Tuesday and slipped further. As of 1:30 am Eastern Time, the pair collected 1.5868.
Against the Canadian dollar, the Aussie moved sideways during late Monday in New York. However, in the early Tokyo deals on Tuesday, the pair made some advances and collected as much as 0.9042 at 8:50 pm Eastern Time. Soon after, the Aussie gave back the recent gains completely and lost ground further. As of 1:30 am ET, the pair was worth 0.9014.
The Australian dollar traded sideways versus the Japanese Yen on late Monday in New York. At about 7:00 pm Eastern Time, the pair started to weaken but it strengthened slightly within two and half hours. The Aussie edged down again at about 10:10 pm ET and has been continuing its downtrend lately. As of 1:30 am ET Tuesday, the pair fetched 105.79.
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posted by Kalin Tasev @ 3:02 AM
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