Aussie and Kiwi weaker on China manufacturing report

Source: Bloomberg
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The New Zealand and Australia Dollar declined after data showed Chinese manufacturing is decelerating more than analysts had predicted. Aussie fell 0.5% versus US Dollar to USD 0.9685 while Kiwi dropped 0.3% against greenback to USD 0.7517. Currently AUD/USD is trading at USD 0.9698 and NZD/USD is trading at USD 0.7523. 
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Fri, 01 Jun 2012 06:57:11 GMT

British Chambers of Commerce reduced UK expansion forecast

The British Chambers of Commerce cut UK growth forecast for 2012 to 0.1% from 0.6% while next year's expansion forecast was upgraded to 1.9% from 1.8%. The decision came after indications that the UK fell into recession again. The country has to create business bank to increase accessibility of capital for small firms as well as increase infrastructure spending to

Fri, 01 Jun 2012 08:58:08 GMT

US Dollar strengthens on China growth worries

The US currency advanced against its main 16 counterparts as it was prized as safe haven asset. Worries that Chinese economy is slowing added to Dollar's strength. The greenback climbed 0.1% versus common currency to USD 1.2350 and gained 0.2% against Japanese Yen to JPY 78.46. Currently EUR/USD is trading at USD 1.2356 and USD/JPY is trading at JPY 78.46. 

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