Category: Forex
The Australian dollar was little changed against its U.S. counterpart on Wednesday, after the release of downbeat Australian consumer sentiment data, while the New Zealand dollar slipped lower amid ongoing global growth worries.AUD/USD was little changed at 0.7431.The Westpac Banking Corporation said Australia’s consumer sentiment fell 2.2% in March, after a 4.2% increase the previous month.A separate report showed that home loans in Australia declined by 3.9% in January, compared to expectations for a 2.3% fall. Home loans rose 2.7% in December, whose figure was revised from a previously estimated 2.6% gain.NZD/USD fell 0.21% to trade at 0.7431.Market sentiment remained under pressure after data on Tuesday showed that China’s exports tumbled 25.4% from a year earlier to $126.1 billion in February. Economists had expected a decline of 12.5%.Imports fell 13.8% year-on-year, slowing from January’s 18.8% tumble.Investors were also eyeing the Reserve Bank of New Zealand’s interest rate decision due on Thursday.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.21% at 97.36, off the previous session’s two-week low of 96.89.
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