DY: Australian, New Zealand Dollars Sold as Asian Stocks Follow Wall St Lower
The Australian and New Zealand Dollars slumped as stocks sold off in Asian trade following Friday’s drop on Wall Street after a round of disappointing earnings reports and a sharp downturn in US consumer confidence.
UK House Prices fell 0.6 percent July – marking the first decline this year – according to a report from Rightmove Plc, an online listing of for-sale properties. The annualized growth rate slowed to 3.7 percent, the lowest in seven months. Rightmove Commercial Director Miles Shipside said “[real estate agents] are suffering from [swelling] portfolios, and buyers’ fitness to purchase is in correspondingly poor shape,” predicting a further 7 percent drop in the second half of 2010 that will erase gains accumulated from the beginning of the year.
