Australian, NZ Dollars Higher On Stimulus Hopes
September 25 2020 - 12:15AM
RTTF2
The Australian and NZ dollars strengthened against their major
counterparts in the Asian session on Friday, as most Asian markets
rose following the positive cues overnight from Wall Street and on
optimism about a U.S. stimulus package as House Democrats
reportedly plan to unveil a new $2.4 trillion relief bill in the
coming days.
House Speaker Nancy Pelosi reiterated that she is ready to
negotiate with the White House to find an agreement.
Federal Reserve Chair Jerome Powell and Treasury Secretary
Steven Mnuchin said on Thursday that the new economic relief
package could help households and businesses.
"If Democrats are willing to sit down, I'm willing to sit down
any time for bipartisan legislation. Let's pass something quickly,"
Mnuchin said.
News that Australia's three major states - New South Wales,
Queensland and Victoria - plan to further ease coronavirus
restrictions also boosted sentiment.
The aussie climbed to a 2-day high of 0.7086 against the
greenback, after falling to 0.7043 at 5:00 pm ET. The next possible
resistance for the aussie is seen around the 0.72 region.
The aussie recovered from near a 3-month low 0.9395 against the
loonie, with the pair trading at 0.9455. The aussie is likely to
challenge resistance around the 0.96 level, should it rises
further.
The aussie advanced to 74.63 against the yen and 1.6478 against
the euro, off its early lows of 74.23 and 1.6564, respectively. If
the aussie rises further, it may find resistance around 76.00
against the yen and 1.62 against the euro.
The NZ currency appreciated to 2-day highs of 0.6592 against the
greenback, 69.42 against the yen and 1.7709 against the euro, from
its early lows of 0.6540, 68.94 and 1.7830, respectively. The kiwi
is seen finding resistance around 0.68 against the greenback, 72.00
against the yen and 1.73 against the euro,
The kiwi hit 1.0738 against the aussie, its strongest level
since August 3. The kiwi is poised to find resistance around the
1.06 level.
Looking ahead, U.S. durable goods orders for August will be out
in the New York session.
Euro vs NZD (FX:EURNZD)
Forex Chart
From Apr 2024 to May 2024
Euro vs NZD (FX:EURNZD)
Forex Chart
From May 2023 to May 2024