Greenback Drops Against New Zealand And Australian Counterparts, Monday, July 23, 2007 12:15:03 AM
In the early Asian session on Monday, the U.S. currency dropped against its Australian, New Zealand and the Canadian counterparts. But the Greenback moved sideways versus the Singapore dollar. The Australian Q2 PPI data which was released during the session pushed the Greenback to trade lower against the Aussie.The Australian Bureau of Statistics said that the Australian Producer Price Index rose 1.0% sequentially in the second quarter, after remaining unchanged in the previous quarter. On an annual basis, the PPI gained 2.3%, compared to a 2.8% increase in the prior quarter.
On Sunday deals, the Greenback showed a mixed performance. While the Greenback strengthened slightly versus the Aussie, it was down against the Canadian dollar. On the other hand, the Greenback showed choppy trend versus the rest of majors.
The U.S. currency showed choppy trading versus the New Zealand Kiwi on late Sunday in New York. However, in the early Asian deals on Monday, the Greenback lost ground. At about 8:35 pm Eastern Time, the Greenback picked up some pips but it edged down within an hour. As of 12:12 am ET, the pair collected 0.7985.
During late Sunday in New York, the U.S. currency gained slightly against its Australian counterpart. But the gains were given back in the early Asian session on Monday. The Greenback made a brief spike higher by about 8:55 pm Eastern Time and this came ahead of the release of the Australian Q2 PPI data. However, amid the release, the Greenback slipped again and as of 12:12 am ET, it was worth 0.8810.
The U.S. currency trended lower versus the Canadian dollar in the late hours on Sunday in New York. The Greenback extended its downtrend in the early Tokyo deals on Monday and fetched 1.0466 as of 12:12 am Eastern Time.
Against the Singapore dollar, the U.S. currency moved sideways during late Sunday trading in New York. However, during the early Asian deals on Monday, the Greenback slid briefly but it followed a sideways movement soon after which was limited between 1.5112 to 1.5121. As of 12:12 am Eastern Time, the pair traded at 1.5115.
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posted by Kalin Tasev @ 12:30 AM
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