NEWS / Foreign Exchange

Asian markets track Wall Street higher

Asian stocks rose on Tuesday, steadying from a two-session slide after upbeat earnings from technology bellwether Apple helped soothe worries about the health of the U.S. economy.But lingering worries about the full impact of the U.S. housing slump on the world's biggest economy and credit market troubles were expected to limit the upside for stocks.

Aussie dollar awaits inflation report

The Aussie dollar was stuck in tight ranges, holding just below 89 U.S. cents, ahead of key domestic consumer price data on Wednesday which could prove the decider on whether local interest rates are headed up or not next month.

Financial markets are factoring in a more-than 50 % chance of a rate hike early next month. Speculation of a move has gathered steam after a robust producer price index report on Monday triggered expectations of strong CPI figures.

New Zealand dollar bounces off lows

The New Zealand dollar pushed higher on Tuesday as firmer equity markets led to slightly improved appetite for risky carry trades.

The kiwi recovered from a soft start to local trading, having hit near four-week lows over the long weekend in New Zealand, but ran into resistance levels just around USD 0.7500.