The Australian dollar weakened

The Australian dollar weakened in Asian trade on Tuesday

The Australian dollar traded lower in Asian markets on Tuesday ahead of the approval of the construction and trade data are expected to be in accordance with the target.

AUD / USD was trading at 0.7526, down 0.16%, while USD / JPY was changing hands at 102.34, down 0.08%.

In Australia, building approvals for June rose 0.5% compared with last month and the trade balance for the same month looks at a deficit of $ 2 billion.

Then, the New Zealand release of inflation expectations for the second quarter with the previous figure of 1.6% quarter-on-quarter. NZD / USD was trading at 0.7175, up 0.06%.

Overnight, the dollar holds gains against other major currencies on Monday, even after data showed that manufacturing activity in the US fell more than expected in July, but the greenback remained within close range of the five-week trough.

The Institute for Supply Management said its index of manufacturing activity fell to 52.6 last month from 53.2 in June. Analysts had expected the index to tick down to 53.0 in July.

The dollar recovered from a sharp drop posted after the Bank of Japan approved only modest stimulus measures at its monetary policy meeting Friday, disappointing market hopes for more aggressive easing.

While the BoJ ease monetary policy further by increasing its purchases of exchange-traded funds, it chose not to lower rates further into negative territory, or increase the monetary base, as analysts widely expected.

But sentiment on the greenback remained fragile after the first reading on US second quarter gross domestic product showed on Friday annual growth rate of 1.2%, well below expectations for 2.6%. The first quarter GDP was revised lower to 0.8% from 1.1%.

The disappointing data reduced expectations for a rate hike from the Federal Reserve early.


Resistance: 0.7541 0.7559 0.7567 High / Low: 0.7608 / 0.7471

Support: 0.7517 0.7505 0.7488 Running Price: 0.7534

Comment: For intraday trade today suggest Sell at 0.7514; stop loss level at 0.7634; targets at 0.7454.


Gold futures tracked stable

Gold futures prices observed stable without large movements in Asian trade on Tuesday as investors looked cautious ahead of non-farm payroll data from the US on the weekend to explain a clearer picture about the prospects for a Fed rate hike this year.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange was quoted up 0.01% to $ 1,359.75 per troy ounce.

Also on the Comex, silver futures for September delivery also rose slightly between gains and losses, trading down 0.04% at $ 20.487 per troy ounce, while copper futures rose 0.05% to $ 2.196 per pound.

Overnight, gold prices are slightly lower in North American trading on Monday, after data showed that US construction spending fell for a third consecutive month in June as spending dropped across the board.

A disappointing report showed a downward revision to second-quarter economic growth estimate published last week on the horizon.

In a separate report, US factories expanded for the fifth consecutive month in July, another sign that the US producers recover from the damage caused by the strong dollar, according to the Institute of Supply Management.

On Friday, the price jumped to $ 1,362.00, the most since July 11 after data showed the US economy grew more slowly than expected in the second quarter, sending the dollar to its lowest five weeks and prompted market participants to roll back expectations of a rate hike from the Federal Reserve ,

Progress reading the second quarter GDP showed an annual growth rate of 1.2%, well below expectations for 2.6%, the Commerce Department said on Friday. The first quarter GDP was revised lower to 0.8% from 1.1%.

The disappointing data reduced the threat of early interest rate hike from the Federal Reserve. Fed fund futures now price is only 12% chance of a rate hike in September. opportunities in December was at 33%, down from 43% before the GDP report and compared with 53% at the beginning of last week.


Resistance: 1352.65 1354.90 1355.18 High / Low: 1354.92 / 1327.71

Support: 1349.65 1347.00 1345.28 Running Price: 1348.30

Comment: For intraday trade today suggest Sell at 1349.00; stop loss at 1350.10; targets at 1347.05.