Wednesday morning in Asia, the Australian dollar edged down against the currencies of US, Japan and Europe. The aussie thus dipped to a 2-day low against the yen and a 5-day low against the greenback and the euro. On the other hand, the aussie showed choppy trading against the Canadian dollar.
The Australian stock market was trading higher today, ending a two-day losing streak, as investors shrugged off a weak overnight lead from Wall Street and a fall in commodity prices. At 8:29 p.m. ET, the benchmark S&P/ASX 200 index was up 17.1 points or 0.5% at 3,548.5 after surging more than 1.5% in early trade. The broader All Ordinaries index was advancing 16.5 points or 0.5% to 3,484.7.
Against the Japanese yen, the Australian dollar showed weakness in early Asian trading on Wednesday. At about 8:45 pm ET, the aussie-yen pair hit a 2-day low of 61.22, compared to Tuesday's closing value of 61.88. On the downside, 60.5 is seen as the next target level for the Australian currency.
In economic news from Japan, an index measuring sentiment among large companies fell sharply in the fourth quarter of 2008, data released by the Cabinet Office revealed today, touching its lowest score since the index started in 2004. The Q4 reading came in at a record low -35.7 for the period of October through December, after posting a score of -10.2 in the previous three months.
During early Asian deals on Wednesday, the Australian dollar dropped to 2.0615 against the European currency. This set a 5-day low for the aussie. The next downside target level for the aussie is seen at 2.104. The euro-aussie pair was worth 2.0476 at Tuesday's New York session close.
The Aussie bounced between 0.8255 and 0.8297 against the Canadian dollar during early Asian deals on Wednesday. The near term support and resistance levels for the aussie-loonie pair are seen around 0.823 and 0.837, respectively. The pair closed yesterday's trading at 0.8299.
The Aussie fell to a 5-day low of 0.6772 against the US currency by about 5:50 pm ET Tuesday. Thereafter, the aussie recovered slightly and showed choppy trading. The aussie-greenback pair that closed yesterday's trading at 0.6804 is presently quoted at 0.6790.
The Canadian October GDP and the US November durable goods orders, personal income and spending reports are expected to influence trading in the North American session today.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.