NZ Dollar Firms On Hopes Of Increase In Stimulus Payments
The NZ dollar appreciated against its key counterparts in the
European session on Tuesday, as the U.S. House vote to increase the
amount of stimulus checks in the coronavirus relief package
underpinned risk sentiment.
The U.S. House of Representatives had voted on Monday to
increase stimulus payments to qualified Americans to $2,000 from
$600 and send it to the GOP-controlled Senate.
Although it is not clear about its fate in the Senate, Trump's
signing of pandemic bill lifted the market mood.
The launch of the EU's vaccination programme spurred hopes for
an economic recovery.
The kiwi climbed to 1.0650 against the aussie, its highest level
since December 18. The currency is seen facing resistance around
the 1.045 region.
The kiwi jumped to 0.7137 versus the greenback from Monday's
closing value of 0.7100. The currency is likely to find resistance
around the 0.74 level.
The kiwi advanced to near a 3-week high of 73.96 against the
yen, compared to yesterday's closing quote of 73.68. Next near term
resistance for the currency is seen around the 76.00 level.
The NZ currency firmed to 1.7156 against the euro from
yesterday's trading session close of 1.7200. The next possible
resistance for the currency is located around the 1.68 level.
Looking ahead, U.S. S&P/Case-Shiller home price index for
October is scheduled for release in the New York session.