Yesterdays stronger than expected Australian economic data provided some level of support for the Aussie dollar at 0. Demand for the Greenback against the majors saw the Aussie move closer to 0.
The local market will have data in the form of Q2 Private Capital Expenditure and the June Conference Board's leading index to digest however the main event comes in the form of this evenings U. With an absence of any U. K economic data overnight the Cable took direction from movements in the Greenback overnight. After pressing against 1. A rise in Durable Goods orders by the most in two years and a 9.
For the second consecutive overnight session the Kiwi attempted, in vain, to break above the 69 cent mark. Buoyed by early confidence surrounding the Euro the NZD gained ground however momentum dissipated and the Kiwi found itself backpedalling for the majority of the night.
Support below 68 cents provided some level of consolidation as it spent the majority of the U. S trading day bouncing between 0. This morning sees the release of N. Z July Merchandise trade data with the deficit expected to increase from million NZD to around million mainly due to rising imports.
The Euro received a boost in early offshore trade from an upbeat German IFO report on the business climate in Europe's largest economy. Sentiment amongst the seven thousand German executives surveyed increased for the fifth consecutive month during August taking the index to The EUR spiked to a high of 1. S economic data both Durable Goods and New Home Sales data beat expectations reinforcing signs of a rebound in the economy.
The big dollar jumped against the majors after the data hitting a high near 1. Investors are now keenly anticipating key releases out of the U. S this evening with all eyes on Q2 preliminary economic growth and personal consumption data. No Data Expected today. The above exchange rates are based on interbank rates. If you are considering a transfer then please login, register or call us for a live dealing rate. This information has been prepared for distribution over the Internet and without taking into account the investment objectives, financial situation and particular needs of any particular person.
OzForex Pty Ltd makes no recommendations as to t he merits of any financial product referred to in its website, emails or its related websites. The information in this email is confidential and may be legally privileged. The contents may not be disclosed or used by anyone other than the addressee. If you are not the intended recipient, any disclosure, copying, distribution or any action taken or omitted to be taken in reliance on it, is prohibited and may be unlawful.
OzForex Pty Ltd cannot accept responsibility for the accuracy or completeness of this email as it has been transmitted over a public network. If you suspect that the email may have been intercepted or amended, please call the sender. When addressed to our clients an y opinion or advice contained in this email is subject to our terms of business. OzForex Pty Ltd have taken every reasonable precaution to ensure that any attachment to this e-mail has been swept for viruses.
However, we cannot accept liability for any damage sustained as a result of software viruses and would advise that you carry out your own virus checks before opening any attachment.
Unsubscribe from this email at: No Data Expected today Note: Documents reviewed by IBT show Bermuda and the Cayman Islands trying to prevent a crackdown on offshore tax maneuvers. A new report suggests measuring minor shifts in the Earth's gravitational field could help seismologists accurately gauge earthquakes much faster than current methods allow. The woman was seen walking her dog when deputy Michael DeMarco pulled up in his car and shot at her with a service pistol before firing the gun in his chest and head.More...