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The Australian dollar failed to extend yesterday’s gain on speculation a report today will show manufacturing shrank in China.
The so-called Aussie was 0.6 percent from a one-week low versus the yen as economists in a Bloomberg News survey forecast China’s manufacturing purchasing managers’ index slid to 49.6 in December from the previous month, slipping below the level of 50 that marks the division between contraction and expansion. New Zealand’s dollar, nicknamed the kiwi, halted yesterday’s advance on expectations Asian stocks will fall after U.S. equities slid for a fourth-straight day yesterday.
Regards,
Don
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