FOREX TradingCharts.com

Forex News: Commodity Currencies Fall As Asian Stock Markets Traded

Commodity Currencies Fall As Asian Stock Markets Traded In Negative Territory

08/18/2017 - 03:20:00 (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. This was caused by Asian stocks trading in the negative territory after a deadly terrorist attack in Spain that left 13 people dead. Further, doubts grew about U.S. President Donald Trump's ability to push through his economic agenda.

A van mowed down pedestrians in the heart of Spain's second-largest city Barcelona on Thursday, killing at least 13 people in a terror attack claimed by Islamic State. More than 100 others were reportedly injured, many so severely that the death toll could rise.

After Trump disbanded two advisory groups of American business leaders, reports emerged that Gary Cohn, a key force behind Trump's tax reform program, is considering resigning as President Trump's top economic advisor. However, the White House knocked down these rumors.

In the Asian trading, the Australian dollar fell to a 1-week low of 86.03 against the yen and a 2-day low of 1.4881 against the euro, from yesterday's closing quotes of 86.37 and 1.4867, respectively. If the aussie extends its downtrend, it may find support around 85.00 against the yen and 1.51 against the euro.

Against the U.S., the New Zealand and the Canadian dollars, the aussie dropped to 2-day lows of 0.7869, 1.0809 and 0.9985 from yesterday's closing quotes of 0.7883, 1.0824 and 0.9997, respectively. The aussie may test support 0.76 against the greenback, 1.06 against the kiwi and 0.98 against the loonie.

The NZ dollar fell to a 2-day low of 0.7276 against the U.S. dollar and a 1-week low of 79.53 against the yen, from yesterday's closing quotes of 0.7282 and 79.78, respectively. If the kiwi extends its downtrend, it is likely to find support around 0.71 against the greenback and 78.00 against the yen.

Against the euro, the kiwi dropped to 1.6105 from yesterday's closing value of 1.6097. The kiwi could find support near the 1.62 region.

The Canadian dollar fell to a 2-day low of 1.2691 against the U.S. dollar and a 4-day low of 86.13 against the yen, from yesterday's closing quotes of 1.2679 and 86.38, respectively. If the loonie extends its downtrend, it is likely to find support around 1.28 against the greenback and 85.00 against the yen.

Against the euro, the loonie dropped to 1.4872 from yesterday's closing value of 1.4865. The loonie may test support near the 1.50 region.

Looking ahead, Eurozone current account data and construction output for June are due to be released at 5:00 am ET.

In the New York session, Canada CPI for July, U.S. University of Michigan's preliminary consumer sentiment for August and U.S. Baker Hughes rig count data are slated for release.

At 10:15 am ET, Federal Reserve Bank of Dallas President Robert Kaplan is expected to speak at the Dallas County Community College.

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 Paring Gains After Yesterday's Surge (07 hr(s), 22 min(s), 08 sec(s) ago)
(RTTNews) - The dollar is down against all of its major rivals Thursday afternoon, easing back fro ...Full Story»

South African Rand Advances Against U.S. Dollar After South Africa Decision (12 hr(s), 25 min(s), 08 sec(s) ago)
(RTTNews) - The South African Rand climbed against the U.S. dollar in early New York deals on Thur ...Full Story»

Euro Mixed After Eurozone Consumer Sentiment Index (12 hr(s), 28 min(s), 08 sec(s) ago)
(RTTNews) - After the release of Eurozone flash consumer sentiment for September at 10:00 am ET We ...Full Story»

Dollar Little Changed After U.S. House Price Index (13 hr(s), 28 min(s), 08 sec(s) ago)
(RTTNews) - The Federal Housing Finance Agency's House Price Index for July has been released ...Full Story»

Dollar Off Early Highs Ahead Of U.S. House Price Index (13 hr(s), 37 min(s), 07 sec(s) ago)
(RTTNews) - The Federal Housing Finance Agency's House Price Index for July is expected at 9.0 ...Full Story»

Loonie Gains After Canada Wholesale Sales (13 hr(s), 58 min(s), 08 sec(s) ago)
(RTTNews) - Following the release of Canada wholesale sales for July at 8:30 am ET Thursday, the l ...Full Story»

Dollar Rises After Weekly Jobless Claims (14 hr(s), 01 min(s), 08 sec(s) ago)
(RTTNews) - Following the release of U.S. weekly jobless claims for the week ended September 16 at ...Full Story»

Loonie Falls Vs Most Majors Ahead Of Canada Wholesale Sales (14 hr(s), 04 min(s), 08 sec(s) ago)
(RTTNews) - Statistics Canada will release Canada wholesale sales for July at 8:30 am ET Thursday. ...Full Story»

Search

FOREX NEWS

Dollar Paring Gains After Yesterday's Surge

09/21/2017 - 15:11 PM (RTTNews)
(RTTNews) - The dollar is down against all of its major rivals Thursday afternoon, easing back fro ...Full Story>>

South African Rand Advances Against U.S. Dollar After South Africa Decision

09/21/2017 - 10:07 AM (RTTNews)
(RTTNews) - The South African Rand climbed against the U.S. dollar in early New York deals on Thur ...Full Story>>

Euro Mixed After Eurozone Consumer Sentiment Index

09/21/2017 - 10:05 AM (RTTNews)
(RTTNews) - After the release of Eurozone flash consumer sentiment for September at 10:00 am ET We ...Full Story>>

Dollar Little Changed After U.S. House Price Index

09/21/2017 - 09:03 AM (RTTNews)
(RTTNews) - The Federal Housing Finance Agency's House Price Index for July has been released ...Full Story>>

Dollar Off Early Highs Ahead Of U.S. House Price Index

09/21/2017 - 08:55 AM (RTTNews)
(RTTNews) - The Federal Housing Finance Agency's House Price Index for July is expected at 9.0 ...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.