Australian, New Zealand Dollars Rise Amid Evergrande's Bond Payment
October 22 2021 - 12:21AM
RTTF2
The Australian and New Zealand dollars climbed against their
major counterparts in the Asian session on Friday, as property
developer China Evergrande made payments on dollar bonds to avert a
default, easing some of the worries about a wide spread
contagion.
Sentiment lifted up after China's Securities Times reported that
Evergrande has sent an $83.5 million interest payment to
bondholders.
Oil prices eased amid indications of tightening of crude stocks
in the U.S.
A rally in the yield on the ten-year treasury note paused as
markets prepared for a potential reduction in stimulus measures as
soon as next month.
Fed Chair Jerome Powell speaks later today in a panel
discussion, with traders awaiting more clarity on the Fed's policy
plans.
The aussie climbed to 0.7500 against the greenback and 1.5521
against the euro, off its 3-day lows of 0.7454 and 1.5594,
respectively. The aussie is seen finding resistance around 0.78
against the greenback and 1.52 against the euro.
The aussie rebounded to 85.54 against the yen, 0.9254 against
the loonie and 1.0444 against the kiwi, from its early low of
84.89, session's low of 0.9222 and more than a 3-week low of
1.0417, respectively. The currency is likely to locate resistance
around 88.00 against the yen, 0.94 against the loonie and 1.07
against the kiwi.
The kiwi edged up to 0.7180 against the greenback, 81.91 against
the yen and 1.6207 against the euro, after falling to 0.7151, 81.41
and 1.6254, respectively in early trades. If the kiwi rises
further, 0.74, 83 and 1.60 are possibly seen as its next resistance
levels against the greenback, the yen and the euro,
respectively.
Looking ahead, Canada retail sales data for August is due in the
European session.
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