•  
  • New York 18:24
  • London 23:24
  • Barcelona 00:24
  • Tokyo 08:24
  • Sydney 10:24
  • SignUp | Login

Forex: AUD/NZD 1.2589 as Kiwi takes off

Mon, Nov 9 2009, 02:34 GMT
http://www.fxstreet.com

FXstreet.com (Sydney) – The AUD/NZD lost ground from weekend trade dropping from 1.2660 last Friday to 1.2589. This reflects a strengthening Kiwi on the back of Fonterra’s announcement that its payout to farmers would increase by 20%. This resulted in the Kiwi buying USD 0.7263 up from USD 0.7192 yesterday. The Kiwi is also buying AUD 0.7984.

The Kiwi is known as a commodity currency and is well supported when the price of raw materials improve. Commodity prices posted modest gains in early trade and the World Bank raised its forecast for East Asian growth. The NZ Reserve Bank Governor Alan Bollard is due to give a speech today comparing and contrasting similarities between New Zealand and Australia.

FXstreet.com

© 2010 “FXstreet.com. The Forex Market” All Rights Reserved. Every effort is made to provide accurate and complete information. However, with the thousands of documents available, often uploaded within short deadlines, we cannot guarantee that there will be no errors. Any republication or redistribution of FXstreet.com content is expressly prohibited without the prior written consent of FXstreet.com.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Related News

Cititechs in form and long EUR/USD
Forex Live | Tue, Feb 9 2010, 22:58 GMT

Forex: Currencies tied to commodities rise sharply
FXstreet.com | Tue, Feb 9 2010, 21:28 GMT

Stocks rallied; Dollar retreats
FXstreet.com | Tue, Feb 9 2010, 21:05 GMT

Forex: GBP/USD pulls back below 1.5700
FXstreet.com | Tue, Feb 9 2010, 20:11 GMT

Forex: EUR/USD holds below 1.3800
FXstreet.com | Tue, Feb 9 2010, 18:57 GMT

audusd, highlighted, nzdusd, currencies

[ View All ]

Related Content

The Chartist Analysis - USDJPY Chartist Analysis by FXBoss
Tue, Feb 9 2010, 15:45 GMT

Daily Market Report - Euro is catching a breather on Tuesday by Wells Fargo Investments, LLC
Tue, Feb 9 2010, 14:54 GMT

FX View - Trichet departs Sydney in a hurry by Interactive Brokers LLC
Tue, Feb 9 2010, 13:09 GMT

Daily US Opening News by RANsquawk
Tue, Feb 9 2010, 12:48 GMT

Daily Forex News - Forex - Trichet Off to Brussels & Markets in a Wait & See Pattern by ACM - Advanced Currency Markets
Tue, Feb 9 2010, 10:49 GMT

audusd, highlighted, nzdusd, currencies

[ View All ]

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2010 "FXstreet.com. The Forex Market" All Rights Reserved.