By Candice Zachariahs and Catarina Saraiva July 1 (Bloomberg) -- The Australian dollar fell for a fourth day, reaching the lowest level in three weeks, after economic reports at home and abroad signaled growth is slowing. The New Zealand dollar earlier declined as expansion in China’s manufacturing slowed for a second month. Building approvals in Australia unexpectedly dropped in May while retail sales growth weakened. Global stocks slid as investors sold higher-yielding assets as U.S. data on manufacturing and home sales trailed economists’ estimates and initial jobless claims rose. “You can see the Aussie back down to 80 cents and further losses in equity markets,” said Thomas Averill, a senior consultant in Sydney at HiFX, a currency risk management firm. “Into the weekend it would be a very brave person that’s long risk, so you’re either going to be short or standing on the sidelines.” A short is a bet an asset will decline. Australia’s currency fell 0.7 percent to 83.52 U.S. cents, from 84.08, at 11:15 a.m. in New York. It touched 83.16 U.S., the lowest level since June 10. The currency slid 2.1 percent to 72.81 yen. New Zealand’s dollar fell as much as 0.8 percent to 67.95 U.S. cents, also the weakest since June 10, before trading at 68.50. It fell 1.4 percent to 59.70 yen. Payrolls, Manufacturing The MSCI Asia Pacific Index of shares fell 1.4 percent, extending a nearly 10 percent second-quarter slump. China’s Purchasing Managers’ Index fell to 52.1 in June from 53.9 the previous month, the Federation of Logistics and Purchasing said today. That was less than the 53.2 median forecast by economists in a Bloomberg survey. The Standard & Poor’s 500 Index fell to a 10-month intraday low as a gauge of manufacturing fell to 56.2 in June from 59.7 a month earlier pending and new home sales plunged 30 percent in May, more than twice as much as forecast. --Editors: James Holloway, Dave Liedtka %NZD %AUD %USD %EUR %JPY To contact the reporters on this story: Candice Zachariahs in Sydney at czachariahs2@bloomberg.net; Catarina Saraiva in New York at asaraiva5@bloomberg.net. To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net

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