- AUD/NZD is consolidated at a key area following a choppy day on Wall Street.
- Key data is on the cards for the week.
The Kiwi is under pressure despite the US Consumer Price index data, which raises questions about when the Federal Reserve might taper. However, despite that, markets were keen to fade US dollar weakness, especially against AUD and NZD. This leaves AUD/NZD floundering after last week’s break and it is right on a key level at this juncture, as analysts at ANZ Bank noted, expecting a sustained break in due course.
Meanwhile, US stocks were also pressured which helped to keep the pressure on the antipodeans. The S&P 500 was down 0.57% while the Dow Jones was down 0.84% by the close. In Europe, the Euro Stoxx 50 lifted 0.1% but the FTSE 100 fell 0.5%. The US 10-year was 6bps lower at 1.27%. The CRB index was up 0.15%.
Key data events
Meanwhile, New Zealand's Gross Domestic Product is tomorrow. ''We remain of the view that the hurdle for optimism is high given what’s priced in (in terms of RBNZ hikes) into short end interest rates and note that the Kiwi has broken lower on a number of crosses,'' analysts at ANZ bank argued. For today, Aussie New Home Sales is up next ahead of Chinese Retail Sales before tomorrow's all important Aussie Employment data.
|Today last price||1.0314|
|Today Daily Change||-0.0038|
|Today Daily Change %||-0.37|
|Today daily open||1.0352|
|Previous Daily High||1.0398|
|Previous Daily Low||1.0327|
|Previous Weekly High||1.0455|
|Previous Weekly Low||1.0322|
|Previous Monthly High||1.0592|
|Previous Monthly Low||1.0338|
|Daily Fibonacci 38.2%||1.0371|
|Daily Fibonacci 61.8%||1.0354|
|Daily Pivot Point S1||1.032|
|Daily Pivot Point S2||1.0288|
|Daily Pivot Point S3||1.0249|
|Daily Pivot Point R1||1.0391|
|Daily Pivot Point R2||1.043|
|Daily Pivot Point R3||1.0462|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.