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Forex: Commodity currencies rise versus USD

By FXstreet.com,  September 25, 2012, 11:46:00 AM EDT

FXstreet.com (Córdoba) - The so-called commodity currencies, i.e. the AUD, the CAD and the NZD, have managed to advance versus the dollar during the New York session as risk appetite improved following a string of US positive data.

Underpinned by Wall Street and gold gains, the AUD/USD rose nearly 60 pips from lows and recently hit a 2-day peak of 1.0460 before stabilizing just below. Currently, AUD/USD is trading at the 1.0450/55 zone, 0.3% above its opening price. Likewise, the NZD/USD climbed to a high of 0.8282 and was last up 0.6% on the day at 0.8275.

The Loonie also trimmed last days' losses against the big dollar, supported by positive Canadian data. After being rejected from above 0.9800, USD/CAD dropped over 50 pips to a low of 0.9755. At time of writing, it is trading at the 0.9760 area, 0.3% below its opening price.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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