Wednesday in Asia, the Australian and the New Zealand dollars edged down against most major currencies as some Asian stocks pared their early gains.

Hong Kong’s Hang Seng is currently down by 0.2%, China’s Shangai composite index is falling by 0.5%, Australia’s S&P 200 index is dropping by 0.2% and the All Ordinaries index is 0.1% lower. Taiwan’s main index is also dropping by 0.2%.

However, the stock markets in Japan, New Zealand, South Korea and Singapore are presently trading higher.

In economic news, an index measuring the total hourly rate of workers in Australia was up 0.8 percent in the second quarter of 2010 compared to the previous three months, the Australian Bureau of Statistics said today. That was slightly below forecasts for a 0.9 percent increase following the 0.9 gain in the first quarter.

On an annualized basis, wage costs were up 3.0 percent – again slightly below forecasts for a 3.1 percent increase after the 3.0 percent gain in the first quarter.

In other news, Westpac Bank’s Leading Economic Index for Australia was unchanged in June compared to an upwardly revised 0.3 percent rise in May. On a full year basis, the Leading Index was up 6.0 percent, compared to a full year rise of 7.4 percent in May.

The New Zealand dollar slipped against its U.S. and Japanese counterparts in Asian deals on Wednesday. At present, the kiwi is worth 60.72 against the yen and 0.7110 against the greenback, compared to Tuesday’s close of 60.95 and 0.7124, respectively. If the kiwi slides further, it may likely target 0.707 against the greenback and 60.0 against the yen.

During Asian deals on Wednesday, the Australian dollar fell against the New Zealand dollar. As of now, the aussie-kiwi pair is worth 1.2692 with 1.254 seen as the next downside target level. At yesterday’s close, the pair was quoted at 1.2724.

The Australian dollar declined against the currencies of US and Japan in Asian deals on Wednesday. The aussie is presently worth 0.9020 against the greenback and 77.0 against the yen. The next downside target level for the aussie is seen at 0.892 against the greenback and 76.0 against the yen. The aussie-greenback and the aussie-yen pairs were worth 0.9055 and 77.46, respectively at yesterday’s close.

During Asian session on Wednesday, the Australian dollar dropped against the Canadian dollar. The aussie-loonie pair that closed yesterday’s trading at 0.9346 is now trading at a 2-day low of 0.9320. On the downside, 0.926 is seen as the next target level for the Aussie.

Wednesday in Asia, the Australian and the New Zealand dollars edged down against most major currencies as some Asian stocks pared their early gains.

Hong Kong’s Hang Seng is currently down by 0.2%, China’s Shangai composite index is falling by 0.5%, Australia’s S&P 200 index is dropping by 0.2% and the All Ordinaries index is 0.1% lower. Taiwan’s main index is also dropping by 0.2%.

However, the stock markets in Japan, New Zealand, South Korea and Singapore are presently trading higher.

In economic news, an index measuring the total hourly rate of workers in Australia was up 0.8 percent in the second quarter of 2010 compared to the previous three months, the Australian Bureau of Statistics said today. That was slightly below forecasts for a 0.9 percent increase following the 0.9 gain in the first quarter.

On an annualized basis, wage costs were up 3.0 percent – again slightly below forecasts for a 3.1 percent increase after the 3.0 percent gain in the first quarter.

In other news, Westpac Bank’s Leading Economic Index for Australia was unchanged in June compared to an upwardly revised 0.3 percent rise in May. On a full year basis, the Leading Index was up 6.0 percent, compared to a full year rise of 7.4 percent in May.

The New Zealand dollar slipped against its U.S. and Japanese counterparts in Asian deals on Wednesday. At present, the kiwi is worth 60.72 against the yen and 0.7110 against the greenback, compared to Tuesday’s close of 60.95 and 0.7124, respectively. If the kiwi slides further, it may likely target 0.707 against the greenback and 60.0 against the yen.

During Asian deals on Wednesday, the Australian dollar fell against the New Zealand dollar. As of now, the aussie-kiwi pair is worth 1.2692 with 1.254 seen as the next downside target level. At yesterday’s close, the pair was quoted at 1.2724.

The Australian dollar declined against the currencies of US and Japan in Asian deals on Wednesday. The aussie is presently worth 0.9020 against the greenback and 77.0 against the yen. The next downside target level for the aussie is seen at 0.892 against the greenback and 76.0 against the yen. The aussie-greenback and the aussie-yen pairs were worth 0.9055 and 77.46, respectively at yesterday’s close.

During Asian session on Wednesday, the Australian dollar dropped against the Canadian dollar. The aussie-loonie pair that closed yesterday’s trading at 0.9346 is now trading at a 2-day low of 0.9320. On the downside, 0.926 is seen as the next target level for the Aussie.