NZ Dollar Falls Amid Rising Risk Aversion
February 23 2017 - 7:29PM
RTTF2
The New Zealand dollar weakened against the other major
currencies in the Asian session on Friday, as Asian stock markets
traded lower following the lackluster cues from Wall Street and as
weaker commodity prices weighed on resources stocks.
Investors also digested mixed corporate earnings results.
Thursday, the NZ dollar rose 0.65 percent against the U.S.
dollar, 0.35 percent against the yen, 0.38 percent against the euro
and 0.39 percent against the Australian dollar.
In the Asian trading, the NZ dollar fell to 1.4664 against the
euro and 0.7214 against the U.S. dollar, from yesterday's closing
quotes of 1.4631 and 0.7229, respectively. If the kiwi extends its
downtrend, it is likely to find support around 1.49 against the
euro and 0.70 against the greenback.
Against the yen, the kiwi dropped to 81.35 from an early high of
81.59. The kiwi may test support near the 79.00 region.
The kiwi edged down to 1.0688 against the Australian dollar,
from an early 4-day high of 1.0656. On the downside, 1.07 is seen
as the next support level for the kiwi.
Looking ahead, the German import price index for January is due
to be released in the pre-European session at 2:00 am ET.
U.K. BBA mortgage approvals for January is slated for release at
4:30 am ET.
In the New York session, Canada CPI data for January, U.S. new
home sales data for January, U.S. University of Michigan final
consumer sentiment index for February and U.S. Baker Hughes rig
count data are set to be announced.
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