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New Zealand dollar and Aussie to lower areas

New Zealand dollar and Aussie oscillated toward lower areas versus their counterpart, the U.S. dollar, amid the level of demand for the greenback stabilizing following the expectations for a rate hike in the U.S. by the end of 2016.

New Zealand's dollar and Aussie weaken further

The AUD/USD reached its weakest level since Sep. 21 to 0.7580, dropping 0.56%.

The Institute of Supply Management's statement on the non-manufacturing PMI index, having climbed from 51.4 to 57.1, supported the greenback to remain stable. The economists predicted the index to appreciate to 53.0.

As per the ADP, a payroll processing firm, the non-farm private employment climbed by 154,000 and was lower than the predictions for a rise of 166,000.

Furthermore, Australia's trade deficit narrowed from A$2.121 billion to A$2.010 billion.

Moreover, the economists estimated the nation's trade deficit to reach A$2.300 billion in August. The NZD/USD pair traded to 0.7158, dropping 0.21%.

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Thursday, 06 Oct, 2016 / 8:26

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Source : https://www.argusfx.com/en/research-education/market-analysis/news/new-zealand-dollar-and-aussie-to-lower-areas

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