Australian, NZ Dollars Higher At Start Of Week
January 30 2022 - 10:14PM
RTTF2
The Australian and NZ dollars advanced against their major
counterparts in the Asian session on Monday, as Asian shares are
mostly higher following the broadly positive cues from Wall Street
on Friday, ahead of key events including rate decisions from major
central banks due throughout this week.
The Reserve Bank of Australia will hold its first meeting of the
year on Tuesday. The central bank is expected to end its bond
buying program amid high inflation.
The Bank of England and the European Central Bank will deliver
their policy announcements on Thursday. While the BoE is widely
expected to deliver another increase in the key interest rate, the
ECB is seen maintaining its monetary policy and is unlikely to give
any signals on possible rate hikes.
Earnings reports from Alphabet, Amazon and Meta Platforms are
also in focus.
Inflation fears eased following last week's U.S. core personal
consumption expenditure price index data that came in broadly in
line with expectations.
The aussie advanced to 0.7030 against the greenback and 1.5867
against the euro, off its early lows of 0.6987 and 1.5953,
respectively. The next possible resistance for the aussie is seen
around 0.72 against the greenback and 1.54 against the euro.
The aussie climbed to 81.21 against the yen and 0.8949 against
the loonie, after falling to 80.55 and 0.8920, respectively in
prior deals. The aussie is poised to face resistance around 83.00
against the yen and 0.93 against the loonie.
The aussie edged higher to 1.0699 against the kiwi, from a low
of 1.0667 seen at 5:15 pm ET. On the upside, 1.09 is likely seen as
its next resistance level.
The kiwi reversed from its prior lows of 0.6538 against the
greenback and 1.7035 against the euro, rising to 0.6575 and 1.6979,
respectively. The currency may possibly challenge resistance around
0.68 against the greenback and 1.66 against the euro.
Recovering from its previous low of 75.38 against the yen, the
kwi gained to 75.92. If the kiwi rises further, 78.00 is likely
seen as its next resistance level.
Looking ahead, Eurozone flash GDP data for the fourth quarter is
due in the European session.
At 8:00 am ET, German preliminary CPI for January is scheduled
for release.
Canada industrial product price index for December will be
released in the New York session.
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