The New Zealand dollar edged lower against its major rivals on Thursday morning in Asia following a report by Business New Zealand showed that the manufacturing activity contracted in July for the first time in almost a year. A slide in Asian stocks also drove investors’ away from the higher-yielding currencies. BNZ’s Performance of Manufacturing
The Australian dollar declined against its major rivals on Thursday morning in Asia as an unexpected jump in Australia’s jobless rate in the month of July and a slide in Asian stocks reduced demand for higher-yielding currencies. The unemployment rate in Australia increased by 0.2 percent in July to 5.3 percent, official data showed today.
The dollar dropped to its lowest since 1995 versus the yen Wednesday morning, as the Japanese currency remained favored by traders in search of a safe haven. Concerns about the pace of the global recovery have intensified this week, as China showed signs of strain and the US Federal Reserve offered a gloomy assessment of
Wednesday, the Australian and the New Zealand dollars plunged against most major currencies as stocks declined amid concerns about the pace of recovery in the world’s largest economy. As expected, the Federal Open Market Committee, the monetary policy-setting arm of the Federal Reserve, said yesterday that it decided to leave interest rates unchanged and reiterated
During New York mid-day trading on Tuesday, the US dollar surged up to new multi-day highs against major opponents. According to a report released by the U.S. Commerce Department today, the wholesale inventories edged up by 0.1 percent in June following a 0.5 percent increase in May. Economists had been expecting wholesale inventories to show
