NZ Dollar Appreciates Amid Rising Risk Appetite

Date : 06/26/2020 @ 4:16AM
Source : RTTF2
Stock : Australian Dollar vs United States Dollar (AUDUSD)
Quote : 0.6945  0.0 (0.00%) @ 1:00AM
AUD vs US Dollar share price Chart

NZ Dollar Appreciates Amid Rising Risk Appetite

AUD vs US Dollar (FX:AUDUSD)
Forex Chart

From Jun 2020 to Jul 2020

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The NZ dollar firmed against its major counterparts in the Asian session on Friday, as most Asian stock markets rose following the positive cues overnight from Wall Street as U.S. regulators eased regulations that will allow banks to invest in risky assets such as venture capital funds.

The rule changes will also enable banks to avoid having to set aside cash when trading derivatives with their affiliates.

The announcement of the easing of regulations could free up billions of dollars in capital in the banking industry.

The kiwi climbed to a 2-day high of 0.6449 against the greenback, from a low of 0.6414 set at 8:50 pm ET. The kiwi is seen finding resistance around the 0.66 level.

The kiwi advanced to a 2-day high of 1.7404 against the euro, after falling to 1.7475 at 8:50 pm ET. The kiwi is poised to find resistance around the 1.72 level.

The kiwi appreciated to a 2-day high of 69.10 against the yen, after having fallen to 68.75 at 8:50 pm ET. If the kiwi rises further, 71.00 is possibly seen as its next resistance level.

Data from the Ministry of Internal Affairs and Communications showed that consumer prices in the Tokyo area were up 0.3 percent on year in June.

That missed expectations for an increase of 0.6 percent on year and was down from 0.4 percent in May.

The NZ currency bounced off to 1.0688 against the aussie, reversing from a low of 1.0717 seen at 8:05 pm ET. On the upside, is likely seen as the next resistance level for the kiwi.

Looking ahead, U.S. personal income and spending data for May and University of Michigan's final consumer sentiment index for June are due in the New York session.

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