Australian Dollar Strengthens Slightly Against Majors Early Monday, Monday, June 11, 2007 5:54:43 AM

The Australian dollar strengthened slightly against the other major currencies during early Monday trading in New York. The Aussie was higher versus the euro ahead and amid the releases of the French April industrial and manufacturing production data. The British producer price index data for the month of May was also released during the session. Ahead of the release, the Aussie advanced against the Pound. However, amid the release, the Aussie moved sideways but it ticked up again soon after.

The Canada April new housing price index is what the data expected by the traders as of now. The National Australian Bank`s business confidence for the month of May is slated for later in the day.

The Australian dollar ticked down versus the U.S. currency on late Sunday in New York. The pair touched a low of 0.8393 at 11:45 pm ET and then traded sideways. At about 2:40 am Eastern Time Monday, the Aussie gained momentum and has been trading further higher lately. As of 5:52 am ET, the Aussie fetched 0.8436 against the Greenback.

The Aussie started to weaken against its European counterpart at 6:10 pm ET Sunday, but the Aussie bounced back completely within about a couple of hours. However, the Aussie lost ground again at about 9:05 pm ET and hit a low of 1.5901 by about 11:45 pm ET. Soon after, the Aussie steadied higher and this came ahead of the release of the French April industrial and manufacturing production data. The Aussie carried over its uptrend amid the release and traded at 1.5820 against the euro as of 5:52 am Eastern Time.

Against the British currency, the Aussie slipped during the late Sunday hours. After fetching a low of 2.3415 at 11:45 pm ET, the Aussie spiked higher and strengthened further in the early deals on Monday. However, at about 4:30 am ET, following the release of the British producer price index data for May, the pair traded briefly sideways. Currently the Aussie is moving higher again and it was quoted at 2.3313 against the Pound as of 5:52 am Eastern Time.

The Australian currency showed choppy trading versus the Canadian dollar on Sunday evening in New York. At about 8:20 pm ET, the pair made a steep fall and thus it moved from 0.8959 to 0.8910 by about 1:55 am ET Monday. The Aussie then rebounded the recent losses completely and trended further higher. As of 5:52 am Eastern Time, an Aussie collected 0.8965 against the Loonie.

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