country flagالعربية

A strong decline in the Australian dollar and the New Zealand dollar against major currencies

2018-10-04 09:59 am | Resource: News | No Views : 276

 The Australian and New Zealand dollars fell against their major counterparts in the Asian session on Thursday amid rising risk aversion following comments by Jerome Powell yesterday, as Federal Reserve Chairman Jerome Powell said the central bank could raise interest rates to levels that would begin to hinder economic growth.

The upbeat US economic data also pushed US 10-year Treasury yields to their highest level since 2011 and raised concerns about interest rate expectations. .

Data from the Australian Bureau of Statistics showed Australia's trade surplus rose in August due to higher exports. With the trade surplus rising to A $ 1.6 billion seasonally adjusted from A $ 1.55 billion in July. Economists had expected the surplus to fall to A $ 1.45 billion.

Australian dollar and New Zealand dollar and strong decline
  • The Australian fell to a two-and-a-half year low of 0.7076 against the US dollar from an early high of 0.7112, showing the pair's next potential support at 0.69 against the dollar
  • The Australian dollar fell from a two-day high of 1.0934 against the New Zealand dollar to 1.0904. The Australian dollar is likely to support the 1.08 area support.
  • Against the euro, the Australian dollar fell to an eight-day low of 1.6214, retreating from an early high of 1.6140. The pair may find support around 1.64.
  • The Australian fell to a two-week low of 80.92 against the yen, from an early high of 81.42. The next potential support for the Australian appears around 79.00 levels against the Yen.
  • Against the Canadian dollar, the Australian dollar fell to 0.9118, its lowest level since July 2010. On the downside, 0.90 is likely to be seen as the next support level for the Australian.
  • The New Zealand dollar fell to a two-week low of 74.15 against the yen from a previous high of 74.63 and support levels around 72.00 yen
  • The New Zealand dollar fell to an eight-day low of 1.7699 against the euro, dropping from a previous high of 1.7605. Support levels are around 1.80 against the euro.

Other analysis

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.