Daily Forex News: AUD and NZD looks a bit pricey given the slowdown in the global economy, weaker commodity prices and equity markets

Daily forex news from Sidney we reported, AUD dollars and NZD dollars got declined for a fourth day as declines in Asian stocks and concern Europe’s debt crisis is going more worsening weighed on risk appetite.
Another South Pacific currencies were weaker against most of their 16 major peers after borrowing costs for Spain and Italy climbed and speculation mounted that Greece may miss debt- reduction targets.

Respons that condition Aussie dollars remained lower against the yen following data that showed Australian inflation slowed in the second quarter, increasing scope for the Reserve Bank to reduce interest rates.
Sean Callow, a senior currency strategist at Westpac Banking Corp. said “The Aussie looks a bit pricey given the slowdown in the global economy, weaker commodity prices and weaker equity markets,” AUD and NZD are very sensitive to the deterioration in global risk appetite.”

So what is the number, AUD slid 0.1 percent to $1.0210 as of 11:46 a.m. in Sydney from yesterday, when it declined 0.4 percent. It touched 79.54 yen, the lowest since June 29, before trading at 79.68, 0.1 percent below yesterday’s close. Meanwhile NZD known as the kiwi currency, fell 0.3 percent to 78.20 U.S. cents. It earlier dropped to 78.08, the lowest since June 14. The currency lost 0.3 percent to 61.13 yen, after touching 61.01, the weakest since June 12.