Australian, NZ Dollars Rise As Virus Fears Ease
April 05 2020 - 11:55PM
RTTF2
The Australian and NZ dollars moved up against their major
counterparts in the Asian session on Monday, as a slowdown in
deaths and infections from the coronavirus in Europe buoyed
sentiment.
While Italy reported the fewest deaths in more than two weeks,
France recorded the lowest number in five days and Spain's rate
fell for three days in a row.
The rate of deaths and infections fell in New York state, with
Trump describing it as a "light at the end of the tunnel"
But Trump warned of more deaths as the pandemic neared its
"peak" in the U.S.
Data from the ANZ showed that New Zealand's commodity prices
declined for the fourth straight month in March.
The ANZ commodity price index declined 2.1 percent
month-on-month in March, the same pace of fall as seen in February.
Prices have been falling for the fourth straight months.
The aussie rose back to 0.6046 against the greenback, from a low
of 0.5991 hit at 8:00 pm ET. Next key resistance for the aussie is
likely seen around the 0.68 level.
The aussie rallied to 66.01 against the yen, representing a
5-day high. The aussie is likely to face resistance around the
74.00 region.
The aussie rose back to 1.7897 against the euro, from a low of
1.8040 seen at 7:30 pm ET. If the aussie strengthens further, it is
likely to test resistance around the 0.68 region.
The kiwi appreciated to a 6-day high of 64.59 against the yen
and a 4-day high 1.8302 against the euro, off its early lows of
63.46 and 1.8475, respectively. The kiwi may seek resistance around
67.5 against the yen and 1.70 against the euro.
The kiwi spiked up to 0.5910 against the greenback, from
Friday's closing value of 0.5857. The kiwi is poised to challenge
resistance around the 0.66 region.
Looking ahead, Eurozone Sentix investor sentiment index for
April and U.K. construction PMI for March are due in the European
session.
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