Action Insight Daily Report

Saturday, June 5, 2010

Daily Report: Dollar Maintains Post FOMC Losses

Dollar remains soft in Asian and maintains post-FOMC losses against major currencies. Asian markets are generally higher on news of resignation of Australian's PM Kevin Rudd but gains are mild so far. New Zealand dollar is the better performer in a quiet market today as supported by solid data which showed GDP rose 0.6% qoq, 1.9% yoy in Q1. Other data released today saw Japanese trade surplus narrowed to JPY 416b in May, corporate service price index dropped -0.8% mom in May. Focus will turn to durable goods orders and jobless claims from US.

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