Antipodean Currencies Rise As Asian Stock Markets Extend Gains
14 Agosto 2017 - 10:07PM
RTTF2
Antipodean currencies such as the Australian and the New Zealand
dollars strengthened against their major counterparts in the Asian
session on Tuesday, as Asian stock markets traded higher, extending
gains from the previous session, as fading concerns about tensions
between the U.S. and North Korea boosted risk appetite.
In economic news, members of the Reserve Bank of Australia's
Monetary Policy Board have noted the continued improvement of
global economic conditions, minutes from the bank's August 1
meeting revealed.
At the meeting, the central bank decided to leave its key
interest rate unchanged at a record low of 1.50 percent for the
eleventh consecutive meeting.
The Australian Bureau of Statistics said that the total number
of new motor vehicle sales in Australia was down a seasonally
adjusted 2.0 percent on month in July, coming in at 99,911. That
follows the downwardly revised 1.1 percent increase in June.
In the Asian trading, the Australian dollar rose to a 5-day high
of 86.78 against the yen, from yesterday's closing value of 86.08.
The aussie may test resistance near the 89.00 region.
Against the U.S. dollar, the euro and the Canadian dollar, the
aussie advanced to 0.7876, 1.4959 and 1.0022 from yesterday's
closing quotes of 0.7851, 1.5004 and 0.9989, respectively. If the
aussie extends its uptrend, it is likely to find resistance around
0.80 against the greenback, 1.48 against the euro and 1.01 against
the loonie.
The aussie edged up to 1.0786 against the NZ dollar, from an
early 5-day low of 1.0757. On the upside, 1.09 is seen as the next
resistance level for the aussie.
The NZ dollar rose to 5-day highs of 80.56 against the yen and
1.6113 against the euro, from yesterday's closing quotes of 79.88
and 1.6169, respectively. If the kiwi extends its uptrend, it could
find resistance around 82.00 against the yen, and 1.58 against the
euro.
Against the U.S. dollar, the kiwi advanced to 0.7312 from
yesterday's closing value of 0.7285. The kiwi may test resistance
near the 0.74 region.
Meanwhile, the safe-haven currencies such as the Japanese yen
and the Swiss franc fell against their major rivals on risk
appetite.
The yen fell to 1-week lows of 129.93 against the euro and
129.93 against the U.S. dollar, from yesterday's closing quotes of
129.13 and 109.65, respectively. If the yen extends its downtrend,
it is likely to find support around 131.00 against the euro, and
112.00 against the greenback.
Against the pound and the Canadian dollar, the yen dropped to
5-day lows of 142.96 and 86.65 from yesterday's closing quotes of
142.15 and 86.16, respectively. The yen may test support near
145.00 against the pound and 89.00 against the loonie.
The yen edged down to 113.27 against the Swiss franc, from
yesterday's closing value of 112.78. On the downside, 115.00 is
seen as the next support level for the yen.
The Swiss franc fell to a 1-week low of 1.1478 against the euro
from yesterday's closing of 1.1452. The franc may test support near
the 1.15 region.
Against the pound and the U.S. dollar, the franc dropped to
6-day lows of 1.2624 and 0.9737 from yesterday's closing quotes of
1.2600 and 0.9721, respectively. If the franc extends its
downtrend, it is likely to find support around 1.28 against the
pound and 0.99 against the greenback.
Looking ahead, Swiss PPI for July, U.K. consumer price, producer
price and retail price indexes for July and house price index for
June are due to be released later in the day.
In the New York session, U.S. import price index for July,
retail sales data for July, business inventories for June, U.S.
Empire State manufacturing index for August and U.S. NAHB housing
market index for August and Canada existing home sales data for
July are slated for release.
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