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The Australian Dollar (AUD) clocked a fresh 6 week high of 0.6007 (1.6645) against the Euro (EUR) but couldn’t hold here dropping back to 0.5980 (1.6715), clearly the cross is not ready to make a move above the key 0.6000 level just yet. Chances of the ECB raising rates this Thursday from the current 4.25%…
The New Zealand Dollar (NZD) slumped Monday slipping from 0.6200 to 0.6160 in overnight action against the US Dollar (NZD). This morning the kiwi is a little stronger, consolidating around the 0.6180 area. Although the NZD has held its ground over the past couple of weeks, overall, the cross pressure remains to the downside after…
Price in the New Zealand Dollar (NZD), British Pound (GBP) moved off the 0.4845 (2.0640) open to reach 0.4810 (2.0780) in early Tuesday trading. The risk on drivers is still evident in the aftermath of Friday’s US Non-Farm release. Also of note was UK services PMI which beat predictions and a hawkish Bank of England….
Momentum in the New Zealand Dollar (NZD) continued into Wednesday against the struggling Australian Dollar (AUD) with price reaching 0.9510 (1.0515) a fresh 2022 high before the Aussie found much needed support, the currency improving to 0.9400 (1.0640) this morning. The recent strength in the kiwi has been rather tough to explain, perhaps central bank…
Market Overview: Equity markets in the US turned back into positive territory Friday, the Dow up 1.4% although there is a way to go to match the late January high of 26,616. The Nasdaq is also trading above 1% for the day. The big mover was Crude, down 3.3% to trade back below 60.00 plunging more…
The Australian Dollar (AUD) edged higher to reach 0.6585 against the US Dollar (USD) in early week moves but came up against resistance dropping to 0.6520 midweek. Chinese markets and softer, precious metal prices both contributed to sentiment. Generally, the cross has been a little aimless amid US Thanksgiving holiday interruptions. On the chart we…