Australian, NZ Dollars Fall As Trump Announces Positive For Virus
02 Ottobre 2020 - 5:35AM
RTTF2
The Australian and NZ dollars slipped against their major
counterparts in the Asian session on Friday, as investors turned
cautious after U.S. President Donald Trump tested positive for the
coronavirus.
Trump began the quarantine process along with First Lady
Melania, who also got infected with the illness.
The news came after Hope Hicks, one of his closest aide, had
tested positive.
Investors await the all-important nonfarm payrolls data for
clues about the direction of monetary policy.
The economy is forecast to have added 900,000 jobs in September,
compared to 1.37 million jobs in August. The unemployment rate is
projected to fall to 8.2 percent from 8.4 percent.
Data from the Australian Bureau of Statistics showed that
Australia retail sales fell a seasonally adjusted 4.0 percent on
month in August - coming in at A$29.481 billion.
That beat forecasts for a drop of 4.2 percent following the 3.2
percent gain in July.
The aussie dropped to 2-day lows of 74.93 against the yen,
0.7131 against the greenback and 1.6424 against the euro, after
rising to 75.88, 0.7188 and 1.6330, respectively in early deals.
The next possible support for the aussie is seen around 72.00
against the yen, 0.68 against the greenback and 1.66 against the
euro.
Pulling back from its early highs of 0.9549 against the loonie
and 1.0806 against the kiwi, the aussie depreciated to a 3-day low
of 0.9498 and a 4-day low of 1.0771, respectively. Next key support
for the aussie is likely seen around 0.92 against the loonie and
1.06 against the kiwi.
The kiwi edged down to 0.6615 against the greenback and 1.7703
against the euro, off its early high of 0.6655 and an 8-day high of
1.7639, respectively. The kiwi is seen finding support around 0.645
against the greenback and 1.82 against the euro.
The kiwi touched a 2-day low of 69.55 against the yen, down from
a high of 70.25 seen at 8:00 pm ET. The kiwi is poised to find
support around the 68.00 area.
Looking ahead, Eurozone CPI for September is scheduled for
release in the European session.
U.S. factory orders for August, jobs data and University of
Michigan's final consumer sentiment index for September will be
featured in the New York session.
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