Wednesday, April 20, 2016

Forex - Aussie holds weaker after NAB Q1 business survey

Aussie weaker after NAB surveyAussie weaker after NAB survey - The Aussie dipped Thursday in Asia as a business survey showed reduced conditions and confidence.

AUD/USD traded at 0.7790, down 0.06%, while USD/JPY fell 0.22% to 109.60 despite weaker reported by the Bank of Japan.

The yen traded steady to stronger in early Asia on Thursday in a light data day and following some upbeat data overnight from the U.S.

changed hands at 109.84, flat, while traded at 0.7803, up 0.10%.

The National Australia Bank said first quarter came in at plus-4 from plus-5 in the fourth quarter. Current business conditions in the first quarter came in at plus-9 from plus-10.

The , which measures the greenback's strength against a trade-weighted basket of six major currencies, fell 0.03% to 94.51.

Overnight, the dollar erased losses against the other major currencies on Wednesday, as data showing that U.S. existing home sales rose more than expected last month boosted over shadowed the previous session's disappointing housing sector reports.

The U.S. National Association of Retailers said that existing home sales rose 5.1% in March to 5.33 million units from the 5.07 million units in the revised data for February. The consensus forecast was for a 3.5% increase to 5.30 million units.

The report came a day after data showed that U.S. building permits fell unexpectedly by 7.7% in March to 1.086 million units, while housing starts declined by 8.8% to 1.089 million units.

But markets were still jittery as oil prices moved lower after a three-day oil worker strike in Kuwait, which had cut the country's crude production nearly in half, ended late Tuesday.

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