NZ Dollar Rises Amid Risk-on Mood
21 February 2025 - 1:48PM
RTTF2
The New Zealand dollar strengthened against other major
currencies in the Asian session on Friday amid risk appetite, as
traders seemed cautious and await clarity on U.S. President Donald
Trump's trade policies and the outcome of Ukraine peace talks.
Trump's harsh criticism of Ukrainian President Zelenskyy
heightened tensions in the ongoing conflict. Trump called Zelensky
a "dictator" after the latter said the U.S. president was "living
in a disinformation space" governed by Moscow.
Crude oil prices settled higher on Thursday, as supply
disruptions in Russia and drop in gasoline and distillate fuel
stocks supported oil prices. West Texas Intermediate Crude oil
futures closed higher by $32 or 0.44 percent at $72.57 a
barrel.
In the Asian trading today, the NZ dollar rose to a 2-day high
of 86.90 against the yen, from yesterday's closing value of 86.90.
The kiwi is likely to find resistance around the 90.00 region.
Against the U.S. and the Australian dollars, the kiwi advanced
to more than a 2-month high of 0.5772 and a 3-day high of 1.1088
from Thursday's closing quotes of 0.5765 and 1.1107, respectively.
If the kiwi extends its uptrend, it is likely to find resistance
around 0.59 against the greenback and 1.09 against the aussie.
The kiwi edged up to 1.8191 against the Australian dollar, from
yesterday's closing value of 1.8216. On the upside, 1.79 is seen as
the next resistance around the 1.79 region.
Looking ahead, PMI reports from various European economies and
U.K. for January are set to be published in the European
session.
In the New York session, Canada retail sales data for December,
U.S. S&P Global PMI data for February, U.S. existing home sales
data for January, U.S. University of Michigan's consumer sentiment
for February and U.S. Baker Hughes oil rig count data are slated
for release.
NZD vs US Dollar (FX:NZDUSD)
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