Australian, New Zealand Dollars Advance Amid Rising Risk Appetite
27 Noviembre 2018 - 08:28PM
RTTF2
The Australian and New Zealand dollars strengthened against
their major counterparts in the Asian session on Wednesday, as most
Asian stocks rose following the positive cues overnight from Wall
Street after comments from top White House economic advisor Larry
Kudlow about trade talks with the Chinese government "at all
levels".
Nevertheless, investors are treading cautiously ahead of a
meeting between U.S. President Donald Trump and Chinese President
Xi Jinping at the G-20 summit in Argentina later this week.
Investors are also looking ahead to a speech by U.S. Federal
Reserve Chairman Jerome Powell later in the day.
Data from the Australian Bureau of Statistics showed that
Australia construction work fell a seasonally adjusted 2.8 percent
on quarter in the third quarter of 2018, coming in at A$53.143
billion.
That missed expectations for an increase of 1.0 percent
following the 1.6 percent gain in the three months prior.
The aussie rose to 0.7243 against the greenback and 82.48
against the yen, from its early lows of 0.7222 and 82.17,
respectively. If the aussie rises further, 0.74 and 84.00 are
likely seen as its next resistance levels against the greenback and
the yen, respectively.
The aussie climbed to a weekly high of 0.9635 against the
loonie, from a low of 0.9602 seen at 5:45 pm ET. Next likely
resistance for the aussie is seen around the 0.98 mark.
Reversing from an early low of 1.5634 against the euro, the
aussie appreciated to 1.5601. The aussie is likely to find
resistance around the 1.54 level.
The kiwi strengthened to 9-day highs of 77.44 versus the yen and
1.6611 versus the euro, off its previous lows of 77.17 and 1.6640,
respectively. The next possible resistance for the kiwi is seen
around 79.00 versus the yen and 1.64 versus the euro.
The kiwi recovered from an early low of 0.6784 against the
greenback, rising to 0.6801. On the upside, 0.69 is possibly seen
as the next resistance level for the kiwi.
Looking ahead, Swiss economic sentiment index for November and
the Bank of England's financial stability report are due in the
European session.
In the New York session, U.S. GDP data for the third quarter,
new home sales, advance goods trade data and wholesale inventories
for October are scheduled for release.
At 12:00 pm ET, Federal Reserve Chair Jerome Powell will give a
speech titled "The Federal Reserve's Framework for Monitoring
Financial Stability" at The Economic Club of New York.
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