Australia, NZ dollars in the doldrums as commodities slide

SINGAPORE, June 27 (Reuters) - Investors left the Australian and New Zealand dollars behind on Monday and the two currencies slipped with commodity prices on growing fears about a looming slowdown in the global economy.

The Australian dollar AUD=D3 was about 0.4% lower at $0.6915. It has been pinned around there for about a week despite a recovery in stock markets as inflation fears ease.

The New Zealand dollar NZD=D3 fell 0.2% to $0.6303, also in between support around $0.61 and resistance near $0.64.

Retail sales figures are due in Australia on Wednesday and a business survey is due in New Zealand on Thursday, amid a souring tone to world economic data. Signs of a slowdown are easing concerns on rate hikes but stoking recession fears.

Besides local data the two currencies may prove even more sensitive to any disappointment in Chinese factory activity figures also due on Thursday, where growth nerves have contributed to plunging prices for industrial metals.

"There's that long shadow of recession overhanging the market," said Tony Sycamore, senior market analyst at City Index in Sydney.

"The Aussie dollar is similar to copper in that it does well in expansions and suffers in's really struggled to escape from the doldrums."

Copper had its worst week in a year last week and nickel and tin plunged.

Australian and New Zealand government bonds mostly held last week's gains and in New Zealand they extended, with benchmark 10-year yields NZ10YT=RR down 9 basis points (bps) to 3.900%.

Australian government bond futures were steady, with the three-year bond contract YTTc1 down 2 ticks at 96.520. The 10-year contract YTCc1 fell 1.5 ticks to 96.200.
Reporting by Tom Westbrook; editing by Christian Schmollinger

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。