Forex: Commodity currencies weaken as sentiment deteriorates

FXstreet.com (Córdoba) - The so-called commodity currencies, i.e. the AUD, the CAD and the NZD, weakened versus the greenback during the New York session as a disappointing ISM manufacturing report offset positive Chinese data, and also weighed on stocks.

AUD/USD retreated from a high of 1.0445 and currently trades at the 1.0420 zone, where it is virtually unchanged since opening. The New Zealand dollar shows a similar picture, having pulled back from the 0.8220 zone against the USD to trade flat at the 0.8200 zone.

The USD/CAD rose over 30 pips from lows and recently hit a fresh daily high of 0.9945 before losing momentum. At time of writing, USD/CAD is quoting at the 0.9940 zone, 0.2% above its opening price.

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