Aussie Falls Before Report Forecast to Show Home Permits Slowed

Australia’s dollar fell against the majority of its 16 most-traded peers before a report forecast to show that growth in the nation’s home-building permits slowed last month.

The Australian currency declined as the Bureau of Statistics will say that September approvals increased 1 percent, compared with 6.4 percent the previous month, according to the median estimate of economists surveyed by Bloomberg. The Aussie and New Zealand’s currency fell against most major peers as stocks and commodities declined on risk aversion.

The Australian dollar dropped 0.4 percent to $1.0329 yesterday in New York. It bought 82.43 yen, down 0.2 percent. The New Zealand dollar, nicknamed the kiwi, slid 0.5 percent to 81.91 U.S. cents. The currency weakened 0.2 percent to 65.37 yen.

The MSCI Asia Pacific Index (MXAP) of shares declined 0.3 percent yesterday, following a 0.9 percent loss on Oct. 26. The Standard & Poor’s GSCI Index of 24 raw materials declined 0.6 percent.

U.S. stock trading was canceled today for a second day, joining bond markets, as 90-mile-per-hour winds and surging seas from Hurricane Sandy bore down on New York and paralyzed American capital markets.

Futures traders increased bets that the Aussie will gain against the U.S. dollar for the first time in four weeks, figures from the Washington-based Commodity Futures Trading Commission show.

The difference in the number of wagers by hedge funds and other large speculators on an advance in the Australian dollar compared with those on a drop was 45,651 on Oct. 23, compared with the so-called net longs of 38,444 a week earlier.

To contact the reporter on this story: John Detrixhe in New York at

To contact the editor responsible for this story: Dave Liedtka at

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