Australia’s dollar headed for a weekly decline versus the
greenback amid speculation U.S. payrolls data today will encourage the Federal
Reserve to continue tapering stimulus that has boosted asset prices.
The Australian and New Zealand dollars held declines
against most major peers before data forecast to show import growth slowed in
China, the major trading partner of both nations. The Australian 10-year
government bond yield was set for a five-day drop.
Australia’s currency fell to 88.96 U.S. cents as of 10:51
a.m. in Sydney from 89 yesterday. It rose 0.1 percent to NZ$1.0790. New
Zealand’s dollar declined 0.1 percent to 82.45 U.S. cents. For the week, the
Aussie has fallen 0.6 percent against the greenback, while the kiwi has
weakened 0.3 percent.
The yield on Australia’s benchmark 10-year bond declined
four basis points from yesterday to 4.28 percent, and has dropped six basis
points since Jan. 3. A basis point is 0.01 percentage point.
Data today may show U.S. employers added 197,000 jobs last
month after boosting positions by 203,000 in November, according to the median
estimate in a Bloomberg News poll of economists. In China, imports probably
rose 5 percent in December from a year ago, compared with a 5.3 percent pace in
the previous period, according to a separate economist survey. ~Jalatama~
(Source: Bloomberg)
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