Forex trading store

WELLINGTON, July 6 (Reuters) – The Australian and New Zealand

dollars drifted subside in quiet trade in Tuesday, as investors

await the Reserve Bank of Australia’s touch rate decision and

assessment of the economy.

* The RBA holds its monthly monetary policy meeting at 0430

GMT and is seen likely to retain rates on hold at 4.5 percent for

the second month in a line amid global uncertainty.

* Attention will be on the brief statement to gauge in what state

concerned the RBA is about the global outlook and particularly

China. Any scholium of caution would reinforce market betting that

rates are on hold for months.

* Interbank futures even imply a chance of a fixed measure

cut by year-end, in stark contrast to the vast more than half of

analysts who think the RBA will hike at least formerly by Xmas.

* Australian dollar about $0.8395, around half a

cent in time late Monday levels, with the currency ranging between

$0.8371 and $0.8467.

* NZ dollar fares weakly better at around $0.6884

from $0.6900 late on Monday, later than slipping as low as $0.6854.

* Markets were lacking impetus by U.S. markets closed for

the Independence Day holiday on Monday.

* In the deficiency of major drivers lingering concerns over the

health of the housekeeping recovery dominated, sending the

growth-sensitive antipodean pair lower.

* The euro cut down as the U.S. dollar was seen

consolidating after hefty losses latest week on the back of a

string of weak data forward jobs, manufacturing and consumer

confidence.

* New Zealand has the closely-watched quarterly review of

business opinion by the NZ Institute of Economic Research debt on

Tuesday.

* The Aussie and kiwi both also drift downward forward the crosses

against the yen and the euro .

* The Aussie-kiwi out of temper steady at about A$1.22.

* Australia also has trade facts on Tuesday and employment

data on Thursday, while NZ has Fonterra’s monthly milk ~ sale on

Wednesday.

* NZ debt prices rallied, with yields gaining a

beat across the curve.

* Australian bond futures also gained, with three-year

futures up 0.04 points to 95.50, and ten-year futures also rose 0.04 points to 94.97.

(Reporting by Adrian Bathgate in WELLINGTON)

((adrian.bathgate@reuters.com; +64-4-4714233; Reuters Messaging:

adrian.bathgate.reuters.com@reuters.toil))

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Keywords: MARKETS AUSTRALIA NEWZEALAND FOREX/BONDS

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