FOREX TradingCharts.com

Forex News: Antipodean Currencies Fall After China Services PMI Slips

Antipodean Currencies Fall After China Services PMI Slips To 6-month Low

04/06/2017 - 03:42:00 (RTTNews)

(RTTNews) - Antipodean currencies such as the Australian, the New Zealand and the Canadian dollars weakened against their major counterparts in the Asian session on Thursday, after data showed that the services sector in China continued to expand in March, although at a slower pace in 6-months.

Data from Caixin showed that the services sector in China continued to expand in March, although at a slower pace, with a PMI score of 52.2. That's down from 52.6 in February. ?Also, the composite PMI fell to 52.1 from 52.6 in February.

Meanwhile, Asian stock markets are in negative territory following the overnight losses on Wall Street after the latest FOMC meeting minutes revealed that the Federal Reserve is ready to start shrinking its bloated $4.5 trillion balance sheet this year.

Investors are also looking forward to the highly-anticipated meeting between President Trump and Chinese President Xi Jinping later today.

Crude oil delivery for May is currently down by 0.11 percent or $51.04 per barrel. Crude oil futures eased from one-month highs after a surprising build in U.S. oil inventories.

The Energy Information Administration said inventories rose by 1.6 million barrels. That's in contrast to an industry report from the American Petroleum Institute showing a 1.8 million barrel decline.

In the Asian trading, the Australian dollar fell to a 9-day low of 1.4171 against the euro and nearly a 4-1/2-month low of 83.15 against the yen, from yesterday's closing quotes of 1.4088 and 83.77, respectively. If the aussie extends its downtrend, it is likely to find support around 1.43 against the euro and 82.00 against the yen.

Against the U.S., the Canadian and the New Zealand dollars, the aussie dropped to nearly a 4-week low of 0.7533, a 3-day low of 1.0126 and a 2-day low of 1.0813 from yesterday's closing quotes of 0.7566, 1.0169 and 1.0865, respectively. The aussie may test support near 0.73 against the greenback, 1.00 against the loonie and 1.06 against the kiwi.

The NZ dollar fell to nearly a 5-month low of 76.86 against the yen, from yesterday's closing value of 77.07. The kiwi may test support near the 75.00 region.

Against the U.S. dollar, the kiwi edged down to 0.6960 from an early 2-day high of 0.6985. On the downside, 0.68 is seen as the next resistance level for the greenback.

The kiwi dropped to a 1-week low of 1.5337 against the euro, from an early 2-day high of 1.5277 . If the kiwi extends its downtrend, it is likely to find support around the1.55 area.

The Canadian dollar fell to an 8-day low of 1.4356 against the euro, from yesterday's closing value of 1.4328. The loonie is likely to find support near the 1.45 region.

Against the U.S. dollar and the yen, the loonie dropped to 2-day lows of 1.3444 and 82.08 from yesterday's closing quotes of 1.3437 and 82.36, respectively. If the loonie extends its downtrend, it is likely to find support around 1.36 against the greenback and 81.00 against the yen.

Looking ahead, Eurozone retail PMI for March is due to to be released later in the day.

At 7:45 am ET, European Central Bank Executive Board Member Vitor Constancio is expected to speak at Eurofi High Level Seminar 2017 in Malta.

In the New York session, European Central Bank's minutes of the latest monetary policy meeting, Canada building permits for February and U.S. weekly jobless claims for the week ended April 1 are slated for release.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Mixed After GDP Data Disappoints (08 min(s), 58 sec(s) ago)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Friday afternoon ...Full Story»

Dollar Little Changed Following U.S. Consumer Sentiment Index (35 min(s), 58 sec(s) ago)
(RTTNews) - Following the release of the University of Michigan's final report on consumer sen ...Full Story»

Dollar Rises Ahead Of U.S. Consumer Sentiment Index (26 min(s), 58 sec(s) ago)
(RTTNews) - The University of Michigan releases final report on consumer sentiment in April at 10: ...Full Story»

Dollar Rises Despite Weak U.S. GDP Data (56 min(s), 58 sec(s) ago)
(RTTNews) - The U.S. dollar rose against its key counterparts in the European session on Friday, e ...Full Story»

Dollar Slightly Up After U.S. GDP Data (08 min(s), 59 sec(s) ago)
(RTTNews) - Following the release of U.S. advanced GDP data for the first quarter at 8:30 am ET Fr ...Full Story»

Loonie Rises After Canada GDP Data (08 min(s), 59 sec(s) ago)
(RTTNews) - After the release of Canada gross domestic product data for February and industrial pr ...Full Story»

Russian Ruble Advances To 2-day High Vs U.S. Dollar Despite Russia Rate Cut (11 min(s), 58 sec(s) ago)
(RTTNews) - The Russian Ruble climbed against the U.S. dollar in European deals on Friday amid hig ...Full Story»

Euro Climbs As Eurozone Inflation Moves Back To ECB Target (11 min(s), 58 sec(s) ago)
(RTTNews) - The euro advanced against its major counterparts in the European session on Friday, af ...Full Story»

Search

FOREX NEWS

Dollar Mixed After GDP Data Disappoints

04/28/2017 - 14:36 PM (RTTNews)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Friday afternoon ...Full Story>>

Dollar Little Changed Following U.S. Consumer Sentiment Index

04/28/2017 - 10:04 AM (RTTNews)
(RTTNews) - Following the release of the University of Michigan's final report on consumer sen ...Full Story>>

Dollar Rises Ahead Of U.S. Consumer Sentiment Index

04/28/2017 - 09:55 AM (RTTNews)
(RTTNews) - The University of Michigan releases final report on consumer sentiment in April at 10: ...Full Story>>

Dollar Rises Despite Weak U.S. GDP Data

04/28/2017 - 09:24 AM (RTTNews)
(RTTNews) - The U.S. dollar rose against its key counterparts in the European session on Friday, e ...Full Story>>

Loonie Rises After Canada GDP Data

04/28/2017 - 08:36 AM (RTTNews)
(RTTNews) - After the release of Canada gross domestic product data for February and industrial pr ...Full Story>>
These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.