NZ, Canadian Dollars Rise On Recovery Hopes
25 Giugno 2021 - 5:43AM
RTTF2
The New Zealand and Canadian dollars appreciated against their
major rivals in the Asian session on Friday, as Asian markets rose
following an overnight rally on Wall Street, as U.S. senators
reached reached an agreement on the infrastructure spending bill
worth $579 billion.
The agreement proposes spending to rebuild roads, bridges and
other traditional infrastructure over the next five years.
The bipartisan deal is expected to move through Congress, along
with a separate bill on infrastructure plan backed by
Democrats.
Overnight data showing a fall in U.S. jobless claims and a surge
in durable goods orders boosted optimism about the strengthening of
the economy.
Investors await report on personal income and spending, which
includes personal consumption expenditure price index, the Fed's
preferred gauge of inflation.
Data from Statistics New Zealand showed that New Zealand
recorded a merchandise trade surplus of NZ$469 million in May.
That was up from the upwardly revised NZ$414 million surplus in
April (originally NZ$388 million).
The kiwi touched 8-day highs of 78.46 against the yen and 0.7082
against the greenback, up from its early lows of 78.20 and 0.7055,
respectively. The kiwi is seen finding resistance around 80.00
against the yen and 0.72 against the greenback.
The kiwi recovered from its prior lows of 1.6901 against the
euro and 1.0743 against the aussie, rising to more than 2-week
highs of 1.6866 and 1.0726, respectively. The next possible
resistance for the kiwi is seen around 1.6 against the euro and
1.06 against the aussie.
The loonie edged up to 1.2301 against the greenback, 1.4693
against the euro and 90.07 against the yen, off its prior lows of
1.2330, 1.4715 and 89.89, respectively. On the upside, 1.21, 1.44
and 92 are likely seen as its next resistance levels against the
greenback, the euro and the yen, respectively.
The loonie recovered to 0.9342 against the aussie, from a 4-day
low of 0.9355 seen earlier in the session. The loonie may test
resistance around the 0.92 region.
Looking ahead, U.S. personal income and spending data and
personal consumption expenditure price index for May, as well as
University of Michigan's final consumer sentiment index for June
are due in the New York session.
Grafico Cross NZD vs Yen (FX:NZDJPY)
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Grafico Cross NZD vs Yen (FX:NZDJPY)
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