Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Aussie Dollar Gains First Time in Five Days; N.Z. Dollar Rises

Don't Miss Out —
Follow us on:

Jan. 30 (Bloomberg) -- Australia’s dollar gained versus against its U.S. counterpart for the first time in five days as investor risk appetite swelled and commodities and stocks rose.

The Aussie strengthened against the majority of its 16 most-traded peers as the nation’s business confidence rebounded in December by the most in more than a decade. New Zealand’s dollar, nicknamed the kiwi, advanced versus the greenback as the nation’s annual trade deficit unexpectedly narrowed.

Australia’s dollar gained 0.6 percent to $1.0475 in New York trading yesterday and rose 0.4 percent to 95.01 yen.

The New Zealand dollar advanced 0.7 percent to 83.95 U.S. cents. The kiwi was up 0.5 percent to 76.15 yen.

Standard & Poor’s GSCI Index of 24 raw materials gained as much as 0.9 percent, the largest intraday jump since Jan. 17. The S&P 500 Index advanced 0.5 percent.

National Australia Bank’s Ltd.’s confidence index, based on a survey of more than 500 companies, rose to a reading of 3 last month from negative 9 the previous month, according to a report released yesterday. The increase is the biggest improvement in sentiment since October 2001. The business conditions gauge, a measure of hiring, sales and profits, improved to negative 4 from a revised negative 6.

In New Zealand, imports exceeded exports by NZ$1.21 billion ($1 billion) in 2012, compared with a revised NZ$1.39 billion shortfall in the year through November, the statistics office in Wellington said yesterday. Economists in a Bloomberg News survey forecast a gap of NZ$1.87 billion. Home-building approvals rose 9.4 percent in December, more than forecast, data showed.

The Australian dollar rose 0.8 percent over the past month among the 10 developed-nation currencies monitored by the Bloomberg Correlation-Weighted Indexes. The kiwi gained 2.2 percent. The U.S. dollar fell 0.3 percent, and the yen tumbled 6.2 percent.

To contact the reporter on this story: Taylor Tepper in New York at ttepper2@bloomberg.net

To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.