Futures Market News
Aussie, Kiwi remain pinched by euro debt crisis
Sep 25, 2012 11:17 AM
The monetary unit of Australia remained low against the world's reserve currency on Tuesday as a report was forecast to note consumer confidence in France is dropping as the sovereign debt crisis lingers in the euro zone, Bloomberg reports.
The dollars of Australia and New Zealand were not too demanded in the aftermath of an ally with German Chancellor Angela Merkel stating Spain should decide if it will solicit a bailout rather than delaying the inevitable. But the South Pacific dollars climbed immediately after economic data indicated China's economy increased.
"It looks as though the unstable situation in Europe could last for some time," analyst Kumiko Gervaise with Gaitame.com Research Institute Ltd. in Tokyo told Bloomberg. "The Australian dollar is looking softer amid uncertainty over whether Spain will ask for aid."
The past 30 days have seen the Australian currency fall about 1.5 percent in value against the world's reserve currency, emerging as the second-worst performing of 10 currencies tracked by Bloomberg.
Traders and investors are increasingly watching circumstances surrounding next week's Reserve Bank of Australia policy makers meeting, The Wall Street Journal reports.
Don’t Miss Our News Updates!
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: Insider Market Advisory FREE Trial
Information is power. Gain an edge with daily commodity futures market updates!
With your free trial membership, you’ll receive full access to trade analysis and recommendations for various markets, daily fundamental and technical market overviews, future price outlooks, and more!
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.