The Australian Dollar initially made gains against the US Dollar early in Thursday’s session after Janet Yellen, the leading candidate to take the top job at the US Federal Reserve said that the US economy must improve before policy makers can begin to reduce the Central Banks $85 billion per month monetary easing programme. The comments bolstered the ‘Aussie’ as it would benefit from a delay to tapering.
The currency weakened as the session progressed due to investor attention turning to this afternoons US jobless claims data which is expected to show a fall in the number of US citizens claiming job seeker benefits. If the data does come in strongly then the likelihood for a cut to stimulus measures becomes more likely which in turn weakens the Australian Dollar.
The currency was also weakened by the publication of disappointing Australian retail sales data. According to the data sales fell by 0.1% in the last quarter, compared to expectations for an improvement of 1.4%.
The New Zealand Dollar followed its Australian relation downwards as the smaller Oceanic nation also suffered from weaker-than-forecast retail sales data. Official data showed that sales in the country climbed by 0.3% in the third quarter, below the expected increase of a rise of 0.9%.
The currency did receive some support however from a report which showed that New Zealand’s Business Manufacturing Index climbed from 54.2 to 55.7 in October.
Current Exchange Australian Dollar (AUD) Rates
The Australian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9312
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6921
The Australian Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5807
The Australian Dollar/ New Zealand Dollar Exchange Rate is currently in the region of: 1.1266
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.4447
The Pound Sterling /Australian Dollar Exchange Rate is currently in the region of: 1.7218
Current New Zealand Dollar (NZD) Exchange Rates
The New Zealand Dollar/US Dollar Exchange Rate is currently in the region of: 0.8265
The New Zealand Dollar /Euro Exchange Rate is currently in the region of: 0.6143
The New Zealand Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5154
The New Zealand Dollar /Australian Dollar Exchange Rate is currently in the region of: 0.8875
The US Dollar/ New Zealand Dollar Exchange Rate is currently in the region of: 1.2098
The Pound Sterling/New Zealand Dollar Exchange Rate is currently in the region of: 1.9399
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6277
Correct as of 10:30 am GMT
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