Futures Market News
Aussie, Kiwi fall against dollar
Mar 14, 2012 09:45 AM
The dollars of Australia and New Zealand lost value to the U.S. dollar on Wednesday in the aftermath of U.S. Federal Reserve policy makers opting against an additional round of monetary easing, stating the pace of the U.S. economy's development is sufficient, Bloomberg reports.
But the Federal Open Market Committee did not rule out the possibility of a third round of asset purchases when it convened on Thursday. The Aussie also fell in value against the Japanese yen, slipping from its highest value since May of last year.
"You're seeing better U.S. data relative to weak data elsewhere," foreign-exchange research global head Callum Henderson with Standard Chartered told Bloomberg. "That's limiting the upsides in Aussie and kiwi and weighing on them to some extent."
Dow Jones Newswires reports the fourth quarter of last year saw housing construction starts fall 6.9 percent in Australia, which also proved to be detrimental to the Aussie.
The housing sector in the U.S. also is of concern to the FOMC, which released a statement after its Tuesday meeting.
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: Euro/Dollar in a Time of Crisis
Sign up for our FREE report and gain insight about the current global crisis through our extensive research and analysis!
Download this exclusive report as we examine current global events, the present impacts on market prices and volatility, and potential outcomes of the Eurozone crisis.
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.