FOREX TradingCharts.com

Forex News: Commodity Currencies Fall As Asian Stock Markets Traded

Commodity Currencies Fall As Asian Stock Markets Traded In Negative Territory

08/11/2017 - 03:16:00 (RTTNews)

(RTTNews) - Commodity currencies such as the Australian, the New Zealand and the Canadian dollars weakened against their major counterparts in the Asian session on Friday, as tensions continued to escalate between the U.S. and North Korea. President Trump further suggested that his "fire and fury" comments may not have been tough enough. Investors also digested local corporate earnings results.

Crude oil delivery for September is currently down 0.37 percent or $48.21 per barrel. The crude oil prices fell after OPEC admitted that its production rose in July despite a supply quota agreement with Russia. The cartel pumped oil at a relatively robust pace even as Saudi Arabia tried to get smaller members to comply.

In other economic news, data from Business NZ showed that the manufacturing sector in July continued to expand in July, though at a slower rate, with a Performance of Manufacturing Index score of 55.4. That's down from the downwardly revised 56.0 in June.

Data from Statistics New Zealand showed that the food prices in New Zealand were down an unadjusted 0.2 percent on month in July, following the 0.2 percent gain in June. On yearly basis, food prices were up 3.0 percent for the second straight month.

Data from the Real Estate Institute of New Zealand showed that New Zealand's house prices increased in July from a year ago, while the volume of sales plunged. The national median house price index rose 3.4 percent year-over-year to NZ$501,000 in July. However, median prices dropped 2.3 percent, month-on-month.

On a seasonally adjusted basis, national median prices grew 3.3 percent in July from a year ago.

In the Asian trading, the Australian dollar fell to a 1-month low of 1.5011 against the euro and a 1-1/2-month low of 85.45 against the yen, from yesterday's closing quotes of 1.4948 and 86.00, respectively. If the aussie extends its downtrend, it is likely to find support around 1.51 against the euro and 84.00 against the yen.

Against the U.S. and the Canadian dollars, the aussie dropped to nearly a 4-week low of 0.7839 and a 2-day low of 0.9993 from yesterday's closing quotes of 0.7872 and 1.0035, respectively. The aussie may test support near 0.76 against the greenback and 0.98 against the loonie.

The aussie edged down to 1.0786 against the NZ dollar, from yesterday's closing value of 1.0819. On the downside, 1.05 is seen as the next support level for the aussie.

The NZ dollar fell to nearly a 3-month low of 1.6228 against the euro and nearly a 2-month low of 79.08 against the yen, from yesterday's closing quotes of 1.6173 and 79.49, respectively. If the downtrend continues, kiwi may find its support around 1.63 against the euro and 77.00 against the yen.

Against the U.S. dollar, the kiwi dropped to 0.7252 from yesterday's closing value of 0.7277. The kiwi is likely to find support near the 0.71 region.

The Canadian dollar fell to nearly a 1-month low of 1.2753 against the U.S. dollar and a 1-1/2-month low of 85.47 against the yen, from yesterday's closing quotes of 1.2742 and 85.69, respectively. If the loonie extends its downtrend, it is likely to find support around 1.30 against the greenback and 84.00 against the yen.

Against the euro, the loonie dropped to 1.5008 from yesterday's closing value of 1.4999. The loonie is could find support near the 1.51 region.

Looking ahead, U.S. CPI for July and U.S. Baker Hughes rig count data are due to be released in the New York session.

At 9:40 am ET, Federal Reserve Bank of Dallas President Robert Kaplan is expected to speak about economic conditions and monetary policy at an annual continuing education event for accounting professionals, in Arlington.

At 11:30 am ET, Federal Reserve Bank of Minneapolis President Neel Kashkari is expected to speak at the Independent Community Bankers of Minnesota Annual Convention.

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 Losing Ground Heading Into The Weekend (04 hr(s), 11 min(s), 09 sec(s) ago)
(RTTNews) - The dollar is down against all of its major rivals Friday afternoon. On a light day fo ...Full Story»

Dollar Little Changed After U.S. Consumer Sentiment Index (09 hr(s), 44 min(s), 08 sec(s) ago)
(RTTNews) - Following the release of the University of Michigan's Consumer Sentiment for Augus ...Full Story»

Dollar Mixed Ahead Of U.S. Consumer Sentiment Index (09 hr(s), 50 min(s), 09 sec(s) ago)
(RTTNews) - The Institute for Social Research of the University of Michigan's Consumer Sentime ...Full Story»

Loonie Advances As Canadian Inflation Rises (10 hr(s), 17 min(s), 09 sec(s) ago)
(RTTNews) - The Canadian dollar climbed against its major rivals in the European session on Friday ...Full Story»

Loonie Rises Following Canada CPI (11 hr(s), 14 min(s), 09 sec(s) ago)
(RTTNews) - Following the release of Canada consumer prices for July at 8:30 am ET Friday, the loo ...Full Story»

Loonie Mixed Ahead Of Canada CPI (11 hr(s), 23 min(s), 09 sec(s) ago)
(RTTNews) - Statistics Canada will release Canada consumer prices for July at 8:30 am ET Friday. I ...Full Story»

Euro Rises After Eurozone Construction Output (14 hr(s), 44 min(s), 09 sec(s) ago)
(RTTNews) - Following the release of Eurozone construction output for June at 5.00 am ET Friday, t ...Full Story»

U.S. Dollar Declines On Trump Policy Doubts (15 hr(s), 32 min(s), 09 sec(s) ago)
(RTTNews) - The U.S. dollar dropped against its major opponents in early European deals on Friday, ...Full Story»

Search

FOREX NEWS

Dollar Losing Ground Heading Into The Weekend

08/18/2017 - 15:38 PM (RTTNews)
(RTTNews) - The dollar is down against all of its major rivals Friday afternoon. On a light day fo ...Full Story>>

Dollar Little Changed After U.S. Consumer Sentiment Index

08/18/2017 - 10:04 AM (RTTNews)
(RTTNews) - Following the release of the University of Michigan's Consumer Sentiment for Augus ...Full Story>>

Dollar Mixed Ahead Of U.S. Consumer Sentiment Index

08/18/2017 - 09:57 AM (RTTNews)
(RTTNews) - The Institute for Social Research of the University of Michigan's Consumer Sentime ...Full Story>>

Loonie Advances As Canadian Inflation Rises

08/18/2017 - 09:31 AM (RTTNews)
(RTTNews) - The Canadian dollar climbed against its major rivals in the European session on Friday ...Full Story>>

Loonie Rises Following Canada CPI

08/18/2017 - 08:34 AM (RTTNews)
(RTTNews) - Following the release of Canada consumer prices for July at 8:30 am ET Friday, the loo ...Full Story>>

Binary Options Articles Courtesy of NADEX

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.