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NZ dollar weakens ahead of Fed comments

22/05/2013
Source: TVNZ

The New Zealand dollar has weakened against its US counterpart amid speculation growth in the world's largest economy may spur the Federal Reserve to reduce stimulus, known as quantitative easing.

The kiwi fell to 81.56 US cents from 81.82 cents at 5pm yesterday. The trade-weighted index was little changed at 77.15 from 77.10 yesterday.

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Bullion Price Movement

22/05/2013
Source: CMI

Tuesday, 21st May, 2013 At the close of trading in New York today, spot prices were as follows:

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Gold, Silver Fall on Bets Fed May Cut U.S. Bond Purchases

22/05/2013
Source: Bloomberg

Gold and silver futures resumed slumps on speculation that the Federal Reserve may scale back U.S. debt purchases, curbing demand for the precious metals as a store of value.

Fed Chairman Ben S. Bernanke will discuss the economic outlook in congressional testimony and the central bank will publish minutes of its latest meeting tomorrow. The bank buys $85 billion of Treasury and mortgage debt a month. The dollar advanced as much as 0.6 percent against a basket of currencies. Yesterday, gold gained 1.4 percent, snapping the longest skid in four years.

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Japan Silver Price Falls Nearly 8%

22/05/2013
Source: Metal Miner

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese silver, which saw a 7.9 percent decline.

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New Zealand Dollar Rebounds Vs Greenback; Eyes On Bernanke

21/05/2013
Source: Wall Street Journal

WELLINGTON, New Zealand—The New Zealand dollar was slightly higher against the U.S. dollar late Monday, recovering from losses overnight Friday.

The Kiwi ground higher, gaining further late in the session, but "I would pitch it as nothing more than a corrective rebound," Westpac WBC.AU +1.40% Senior Strategist Imre Speizer said. It pushed below US$0.8100 overnight Friday for the first time this year as the U.S. dollar continued to strengthen after U.S. consumer sentiment improved.

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