Wednesday, 31 August 2011

Building Permits in Australia & New Zealand Rise, Aussie & Kiwi Gain

The currencies of Australia and New Zealand increased today, before falling later, after reports showed that the number of building permits in these countries increased in July.

New Zealand accepts construction rose 6.3 percent in July, after falling 4.3 percent in June. Australia accepts construction rose 1.0 percent in July, seasonally adjusted monthly after falling 3.6 percent in June. Currently, the kiwi tends to decrease, while Australia lost all its gains.

NZD/USD rose from 0.8459 to 0.8486 as of 12:57 GMT today and earlier it touched the intraday high of 0.8535 — the highest level since August 4. AUD/USD traded at 1.0644 today, while earlier it climbed from 1.0656 to 1.0684.

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