NZ Dollar Climbs Amid Risk Appetite As Geopolitical Tensions Ease
08 Marzo 2018 - 09:14PM
RTTF2
The New Zealand dollar advanced against its major counterparts
in the Asian session on Friday, as sentiment improved amid easing
geopolitical tensions after North Korean leader Kim Jong Un had
offered to halt nuclear and missile tests and expressed his desire
to meet with U.S. President Donald Trump through South Korean
national security adviser Chung Eui-yong.
After talks with Trump at the White House, South Korean National
Security Adviser Chung Eui-yong passed message that the North
Korean leader was "committed to denuclearisation" and had
"expressed his eagerness to meet President Trump as soon as
possible."
Trade-war tensions also eased somewhat after the Trump
administration suggested that countries such as Canada, Mexico, and
Australia could be exempt from the tariffs if they can agree on
alternate means to resolve trade inequities.
Data from Statistics New Zealand showed that New Zealand credit
card spending gained a seasonally adjusted 0.1 percent on month in
February.
That follows the 0.6 percent increase in January.
The kiwi rose to 0.7283 against the greenback, from an early low
of 0.7249. The kiwi is seen finding resistance around the 0.74
region.
The kiwi climbed to 77.73 against the yen, a level unseen so far
this month. On the upside, 79.00 is seen as the next resistance
level for the kiwi.
The Bank of Japan kept its monetary stimulus unchanged, as
widely expected.
Governor Haruhiko Kuroda and his board members decided by an 8-1
majority vote to hold its target of raising the amount of
outstanding JGB holdings at an annual pace of about JPY 80
trillion.
The kiwi hit a 2-day high of 1.0705 against the aussie, after
having fallen to 1.0735 at 7:00 pm ET. If the kiwi rises further,
1.06 is likely seen as its next resistance level.
The kiwi that closed yesterday's trading at 1.6953 against the
euro advanced to a weekly high of 1.6911. The kiwi is poised to
find resistance around the 1.68 level.
Looking ahead, U.K. trade data, industrial production and
construction output for January are scheduled for release in the
European session.
In the New York session, U.S. and Canadian jobs data for
February and U.S. final wholesale inventories for January are set
for release.
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