Compared to the beginning of the weak, the commodity currencies have taken a break as trading ranges narrow.
There was no economic data released from any of the three commodity producing countries over the past 24 hours and even a sharp jump in oil prices has failed to lift the Canadian dollar. Only the New Zealand had news to report. Finance Minister Cullen continued to warn that the New Zealand economy faces serious challenges and is not immune from the global slowdown. These comments come ahead of the trade balance report which suggest that exports may have taken a hit in the month of February. Australia will also be releasing their leading indicators numbers tonight; no bit surprises are expected because even though global growth is slowing, the Australian labor market has been hot.