Kathy Lien: The Australian dollar /quotes/zigman/4867876/realtime/sampled 0.0657% fell to 93.57 U.S. cents from 94.17 U.S. cents late Monday. The Aussie has taken a huge hit from the slide in gold, said Kathy Lien, managing director of foreign-exchange strategy for BK Asset Management. Gold futures fell 2.1% on Tuesday to settle at $1,300.30 an ounce on the Comex division of the New York Mercantile Exchange. , according to Market Watch. The dollar /quotes/zigman/4867882/realtime/sampled .0480% rose to 1.0977 Canadian dollars from 1.0966 late Monday. The Bank of Canada is scheduled to meet Wednesday. If we get continued concerns from the central bank about investment activity and exports that could be all the needs to get to 1.10, said Lien. NEW MarketWatch The dollar rose against the Australian dollar on Tuesday as gold futures dropped more than 2% and investors anticipated Chinese data that is likely to show a slowing of growth. AFP/Getty Images Gold futures slide on Tuesday. Investors looked ahead to Chinas gross domestic product data, with expectations of a decline to 7.3% growth in the first quarter from 7.7% in the fourth quarter. GDP growth is expected to hit its slowest pace in five years, said Lien. A worse-than-expected reading likely to weigh further on the Aussie, she added. China is Australias largest trading partner.
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