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More Bad News Out of Australia and New Zealand
Tuesday, 29 July 2008 20:52:59 GMT
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Previous articles
Previous Articles
Aug 21 -
Gold, Oil Rallies Propel the Commodity Dollars Higher, Canadian CPI Hits 5+ Year High
Aug 20 -
Canadian Dollar: Retail Sales Fail to Provide Lasting Boost, Will CPI Do The Trick?
Aug 19 -
Commodity Dollars Gain On Oil, Gold - Canadian Dollar Faces Retail Sales
Aug 15 -
Australian Dollar Headed For Yearly Low
Aug 15 -
Canadian Dollar, New Zealand Dollar Surge Despite Drop In Commodities
Aug 14 -
Commodity Dollars Struggles To Hold Onto Latest Gains
Aug 13 -
Commodity Dollars Make a Comeback As Oil, Gold Futures Rally
Aug 12 -
Australian Dollar, New Zealand Dollar Plunge As Demand For Yield Wanes
Aug 11 -
Australian Dollar Hits 6+ Month Low As Gold Plummets More Than $35/oz
Aug 11 -
Australian Dollar Looks Weak, But a Correction is Likely
Aug 08 -
Gold, Oil Price Declines Weigh On Commodity Bloc, Loonie Hit By Labor Market Data
Aug 07 -
Commodity Dollars Down As Traders Continue To Sell High-Yielders
Aug 06 -
Canadian Dollar Gets Brief Boost From Ivey PMI, Watch Out For Aussie, NZ Employment Data
Aug 05 -
Commodity Currencies: Aussie Gets Slammed as the Reserve Bank of Australia Turns Dovish
Aug 04 -
Australian Dollar: RBA Policy Statement Could Be Hawkish
Aug 01 -
Comm Dollars Remain Weak As Aussie, NZ Economies Falter
Jul 30 -
Australian and New Zealand Continue to Fall
Jul 29 -
More Bad News Out of Australia and New Zealand
Jul 28 -
Australian, New Zealand Dollar Recover, Canadian Dollar Continues Lower
Jul 25 -
Oil Prices Continue to Fall, Taking the Canadian Dollar Lower
Written by Kathy Lien, Chief Strategist
The Australian, New Zealand and Canadian dollars all fell under the weight of broad dollar strength and lower commodity prices. However, news out of Australia and New Zealand has also weighed on the currencies. Leading indicators in Australia dropped 0.1 percent in May, reflecting a gradual slowdown in the Australian economy. The big news however was from New Zealand, where a finance company has suspended withdrawals and new investments. They are not first to do so, Canterbury Mortgage Trust, New Zealand’s second largest mortgage fund announced similar measures last week. Looking ahead, we continue to expect the New Zealand economy to deteriorate. Canada has industrial product and raw material due for release tomorrow – inflation should remain hot.
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