The Australian dollar lost ground against other major currencies during Wednesday’s early North American session. The dollar fell to a 2-day low against the yen and fresh multi-day lows against the dollar, the euro and the Canadian dollar.
The Australian currency lost ground against its Japanese counterpart in early North American session on Wednesday. The aussie-yen pair hit at 2-day low of 78.15 at 8:35 am ET and this level can be compared to yesterday’s close of 79.36. On the downside, the aussie may target around the 77.80 level. Presently, the pair is worth 78.17.
Japanese small business confidence improved in July for the second straight month, a survey from Shoko Chukin Bank showed today.
The indicator rose to 48.1 in July from 47.4 in June. A reading below 50 indicates pessimists outnumber optimists. The survey was conducted among 1,000 companies.
The Australian dollar has been extending its previous session’s loss against its Canadian rival in early North American session on Wednesday. As of now, the aussie-loonie pair is trading at a new 6-day low of 0.9213, compared to 0.9348 hit at yesterday’s close. On the downside, the aussie may target around the 0.916 level.
The Australian dollar hit a new 5-day low of 0.8913 against the greenback and a new 6-day low of 1.4575 against the euro, compared to yesterday’s closing quotes of 0.9028 and 1.4404, respectively.
As of now, the aussie is worth 0.8942 against the greenback and 1.4552 against the euro.
A report from the U.S. Commerce Department showed that orders for durable goods fell by 1.0 percent in June following a revised 0.8 percent decrease in May. The drop in orders came in line with economist estimates, while the decrease in orders in the previous month was revised from the 0.6 percent decline that had been reported.