Kiwi and Aussie go down against greenback

On Wednesday, the Australian and New Zealand dollars went down against their major US rival, following gloomy economic reports from Australian and New Zealand, while upbeat US data keep driving the greenback.     

The currency pair NZD/USD dipped 0.51%, being worth 0.6777.  

On Wednesday, New Zealand’s statistics reported that the producer price index input slumped by 1% in the first quarter, thus disappointing expectations for a 0.3% surge right after a 1.2% dip in the three months ending December. 

In the last quarter PPI output went down 0.2% compared to expectations for a 0.4% soar, after a 0.8% dip in the fourth quarter, 2015.    

AUD/CAD tumbled 0.76%, trading at 0.7271, thus re-approaching Monday’s two-month minimums of 0.7232.

The Australian Bureau of Statistics informed that in the first quarter wage price index went up by 0.4%, below expectations for a 0.5% revenue after the last quarter’s 0.5% surge.   

By the way, the evergreen buck remained supported even after a series of positive US economic posts on Tuesday. It definitely powered expectations for the Fed’s approaching rate hike.   

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