Safe haven seekers boost Dollar, Aussie export prices weigh on FX

[Pinalli]

USD

The Dollar gained on Friday, after US corporate earnings brought about some concerns over the economy. The corporate numbers brought back the Dollar's safe-haven appeal as the higher yielding currencies retreated from two days of moderate gains.

While corporate earnings were mixed, US economic data helped temper the doomsday mood as home construction numbers came in better than expected.

At the close, the Dollar was up .04% to the Yen to 94.23, up .3% to the Euro to 1.41, up .28% to the British Pound to 1.6333, up .25% to the Canadian Dollar to 1.1163, up .3% to the New Zealand Dollar to .6443 and up .05% to the Swiss Franc to 1.0765.

AUD

The Australian Dollar fell on Friday, after economic release showed that Aussie export prices fell at a record pace last quarter.

The news put a damper on an Aussie Rally that’s we’ve witnessed recently in the Forex online market and threatened to weigh heavily on the economy in the next few months. The export price news also gave the Central Bank a solid reason to keep interest rates at record lows for now.

The Aussie closed down .2% to the USD to .8007, down .2% to the Euro to 1.7606, down .15% to the Japanese Yen to 75.47, and down .22% to the New Zealand Dollar to 1.2419.

[Pinalli]

Latest update i read at Finexo is that; there is a sharp drop in oil prices weighed on the commodity-linked Australian Dollar on Wednesday, giving back sharp gains from a day earlier. The oil news comes one day after Australia’s Central Bank hints at the end of stimulus measures and the possibility if interest rate hikes in the near future.

At 11:00PM GMT, the Aussie was down 1.3% to the US Dollar to .8161, down .4% to the Euro to 1.7186, down .75% to the Japanese Yen to 77.61 and down .5% to the Canadian Dollar to .8903 which was also suffering broader losses overall as a result of the oil slump.