Australian, NZ Dollars Firm On Trade Optimism
30 Diciembre 2018 - 7:08PM
RTTF2
The Australian and New Zealand dollars drifted higher against
their major rivals in the Asian session on Monday, as investors
cheered signs of progress in trade talks between the U.S. and China
after telephonic conversation of their leaders over the
weekend.
U.S. President Donald Trump held telephonic conversation with
Chinese president Xi Jinping on Saturday and claimed "big progress"
towards a deal.
"Deal is moving along very well. If made, it will be very
comprehensive, covering all subjects, areas and points of dispute.
Big progress being made!," Trump tweeted.
Chinese news agency Xinhua cited President Xi Jinping as saying
that both the nations aimed to achieve "stable progress" in
ties.
Oil extended gains in the final trading day of the year,
underpinned by progress in U.S.-China trade talks.
Investors also digested news that China's manufacturing activity
contracted in December. The latest survey from the National Bureau
of Statistics said that the manufacturing sector in China fell into
contraction in December, with a PMI score of 49.4. That's down from
the no-change mark of 50.0 in November, falling beneath that mark
and into contraction. A score above 50 signals expansion.
Data from the Reserve Bank of Australia showed that Australia
private sector credit rose 0.3 percent on month in November - in
line with expectations and slowing from 0.4 percent in October.
On a yearly basis, private sector credit advanced 4.4 percent -
again matching forecasts and slowing from 4.6 percent in the
previous month.
The aussie rose to 1.0523 against the kiwi and 0.7067 against
the greenback, from its early lows of 1.0483 and 0.7034,
respectively. On the upside, 1.08 and 0.725 are likely seen as the
next resistance levels for the aussie against the kiwi and the
greenback, respectively.
The aussie advanced to 78.06 against the yen and 0.9626 against
the loonie, reversing from its early lows of 77.60 and
0.9590,respectively. The aussie is poised to find resistance around
80.00 against the yen and 0.97 against the loonie.
The aussie strengthened to a 4-day high of 1.6180 against the
euro, off its previous low of 1.6251. The next possible resistance
for the aussie is seen around the 1.60 area.
The kiwi spiked up to 4-day highs of 0.6721 against the
greenback and 1.7018 against the euro, off its previous lows of
0.6703 and 1.7067, respectively. The kiwi is seen finding
resistance around 0.685 against the greenback and 1.68 against the
euro.
Having dropped to 73.97 against the yen at 7:00 pm ET, the kiwi
reversed direction and appreciated to 74.22. Next key resistance
for the kiwi is possibly seen around the 76.00 level.
Euro vs NZD (FX:EURNZD)
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