Australian and New Zealand Dollars Retrace Ahead of Unemployment Data

Dollar strength has hit both the Australian and New Zealand dollars today. Australian house prices increased less than expected on a quarterly basis, but more than expected on an annualized basis.

The outlook for the economy remains promising, which should the pave the way for a decent unemployment report tonight. New Zealand reported an up tick in food prices, but unlike Australia, their unemployment data is expected to reflect more weakness than strength. The Canadian dollar is slightly stronger ahead of the trade and housing market data tomorrow. Strength is expected in both reports.