The Australian dollar extended its recent uptrend against major counterparts during New York mid-day trading on Tuesday. The aussie climbed to new multi-month high against the Canadian dollar, new multi-week high versus the euro and fresh multi-day highs against the US dollar and yen.
Extending the European session's uptrend, the Australian currency ticked up further against its U.S. and Japanese counterparts in New York trading. At around 11:30 am ET, the Aussie climbed to new multi-day highs of 0.6958 against the greenback and 68.96 versus the yen. As of now, the Aussie is worth 0.6935 against the buck and 68.78 versus the yen.
In economic news from the U.S., the Conference Board's consumer confidence index edged up to 26.0 in March from 25.3 in February. Economists had been expecting a somewhat more significant increase by the index to a reading of 28.0.
At the same time, the index of activity in the Chicago-area manufacturing sector fell to 31.4 in March from 34.2 in February, with a reading below 50 indicating a contraction in the sector. Economists had been expecting the index to edge up to a reading of 34.3.
Against the Canadian dollar, the Aussie edged up in New York deal today. The Aussie surged to 0.8753 against the loonie by about 10:55 am ET, which may be compared to Monday's closing value of 0.8608. This set the highest level for the Australian dollar against the loonie since September 2008. At present the pair is worth 0.8747.
According to Statistics Canada, gross domestic product for Canada fell 0.7 percent in January. Meanwhile, Canadian Industrial Product Prices rose 0.4 percent and raw materials climbed 1.7 percent in February.
The Australian currency also showed strength against the euro in New York morning and hit a multi-week high of 1.9100 at about 11:00 am ET. The pair that closed yesterday's New York session at 1.9374 is now worth 1.9128.
According to a flash estimate from the Eurostat, Eurozone annual inflation slowed to 0.6% in March from 1.2% in February.
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