NZ Dollar Advances After Trump Delays Tariff Deadline
24 Febrero 2019 - 08:07PM
RTTF2
The New Zealand dollar strengthened against its major
counterparts in the Asian session on Monday amid risk appetite, as
U.S. President Trump agreed to extend the March 1 deadline to raise
proposed tariffs on Chinese imports.
Trump tweeted that both sides had made "substantial progress" on
structural issues in weekend talks, prompting him to delay the U.S.
hike in tariffs scheduled on March 1.
Trump said that he would plan a summit with Chinese President Xi
Jinping at his Mar-a-Lago resort in Florida to conclude an
agreement.
Data from Statistics New Zealand showed that New Zealand retail
sales advanced a seasonally adjusted 1.7 percent on quarter in the
fourth quarter of 2018.
That surpassed expectations for an increase of 0.5 percent
following the upwardly revised 0.3 percent gain in the three months
prior.
The kiwi strengthened to a 5-day high of 0.6883 against the
greenback, from last week's closing value of 0.6843. On the upside,
0.70 is possibly seen as its next resistance level.
The New Zealand currency that ended Friday's trading at 75.72
against the yen strengthened to a 5-day high of 76.23. If the kiwi
rises further, 77.5 is likely seen as its next resistance
level.
Data from the Bank of Japan showed that Japan producer prices
rose 1.1 percent on year in January - in line with expectations and
unchanged from the previous month.
On a monthly basis, producer prices sank 0.5 percent after
sliding 0.1 percent in December.
The kiwi appreciated to a 5-day high of 1.6486 against the euro,
from a low of 1.6541 hit at 6:00 pm ET. The next possible
resistance for the kiwi is seen around the 1.64 region.
The kiwi rose back to 1.0392 against the aussie and held steady
thereafter. The kiwi had already set a 6-day high of 1.0387 against
the aussie at 5:00 pm ET. The pair finished last week's trading at
1.0404.
Looking ahead, at 5:00 am ET, the Bank of England Governor Mark
Carney is set to hold a press conference in London.
In the New York session, U.S. wholesale inventories for December
are due.
Federal Reserve Governor Richard Clarida will participate in a
moderated discussion titled "Fed Listens: A Conversation with
Community Leaders in Southern Dallas" in Texas at 11:00 am ET.
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