Aussie and Kiwi rebound ahead US retail sales statement

Note: This section contains information in English only.
Source: Bloomberg

New Zealand and Australian dollar recovered from 2-week lows before US retail report which is expected to show that retail sales in US surged in November. Economists surveyed by Bloomberg predicted an increase of 0.6%.  Australian dollar gained 0.1% against greenback on Tuesday reaching $1.0086 in Sydney trade, while its New Zealand counterpart added 0.2% to $0.7643. AUD/USD currently is trading at $1.0110 while NZD/USD is trading at $0.7656.

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Tue, 13 Dec 2011 09:48:45 GMT

US dollar hits 2-month high

The US dollar hit a 2-month record high against the euro, before bond auction on concern that Standard & Poor's may reduce national debt ratings in the euro area. The greenback touched $1.3161 against euro on Tuesday, highest since October 4. The dollar is appreciating on euro weakness, said Sacha Tihanyi, Scotia Capital's currency strategist. EUR/USD currently is trading at $1.3196. 

Tue, 13 Dec 2011 17:37:40 GMT

Canada to abandon Kyoto protocol

On Monday Canada became the first nation that claimed it will quit Kyoto protocol. Peter Kent, Environment Minister made an announcement of Canada's abandonment after he returned from summit in Durban. Canada, a leading energy producer has complained extensively that Kyoto protocol does not work as it ignores too many important emitters such as India and China. 

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