Australian, New Zealand Dollars Advance Amid Rising Risk Appetite
28 January 2019 - 2:13PM
RTTF2
The Australian and New Zealand dollars climbed against their
major counterparts in the Asian session on Monday amid risk
appetite, as the U.S. government re-opened after ending the longest
shutdown in U.S. history.
President Donald Trump announced a deal to reopen the government
for three weeks despite not receiving the $5.7 billion he had
demanded for building a border wall.
Investors now look ahead to the next round of U.S.-China trade
talks set to begin later this week in Washington.
Also in focus is the Federal Open Market Committee's two-day
meeting starting Tuesday. The Fed is widely expected to keep rates
on hold, after a rate hike last month.
Traders await the policy statement to see whether the Fed will
signal a pause in the tightening cycle.
The kiwi appreciated to 0.6872 against the greenback, its
strongest since December 18. This follows a low of 0.6828 seen at
5:00 pm ET. The next possible resistance for the kiwi is seen
around the 0.70 level.
The kiwi climbed to near 6-week highs of 75.18 against the yen
and 1.6611 against the euro, off its early lows of 74.75 and
1.6699, respectively. The kiwi is likely to challenge resistance
around 77.00 against the yen and 1.64 against the euro.
The kiwi strengthened to a 4-day high of 1.0474 versus the
aussie, following a 4-day decline to 1.0510 at 6:00 pm ET. The kiwi
is poised to challenge resistance around the 1.03 region.
The aussie firmed to a 10-day high of 0.7204 against the
greenback, from a low of 0.7173 hit at 5:00 pm ET. If the aussie
rises further, 0.74 is possibly seen as its next resistance
level.
The aussie climbed to 78.82 against the yen, after having
dropped to 78.48 at 7:30 pm ET. On the upside, 89.00 is likely seen
as its next resistance level.
The aussie hit a weekly high of 1.5851 against the euro, from a
low of 1.5900 hit at 7:00 pm ET. The aussie is seen finding
resistance around the 1.56 mark.
The aussie reversed from an early low of 0.9482 against the
loonie, rising to 0.9512. Continuation of the aussie's uptrend may
see it challenging resistance around the 0.97 region.
Looking ahead, Eurozone M3 money supply for December is due in
the European session.
At 9:00 am ET, ECB President Mario Draghi will testify about the
economy and monetary policy before the European Parliament Economic
and Monetary Affairs Committee in Brussels.
At 9:30 pm ET, Bank of England governor Mark Carney along with
other MPC members will participate in a question and answer session
about the future of money at the Bank of England's Future Forum in
London.
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