Australian, NZ Dollars Higher As Oil Prices Surge On Concerns Over Russian Oil Ban
07 Marzo 2022 - 4:44AM
RTTF2
The Australian and NZ dollars climbed against their major
counterparts in the Asian session on Monday, as oil prices surged
above $130 a barrel after the White House said it is proposing a
ban on oil imports from Russia in relation to the conflict in
Ukraine.
In a letter to lawmakers on Sunday, House Speaker Nancy Pelosi
stated that the chamber is exploring a bill that would ban the
import of oil and energy products from Russia amid intensified
fighting in Ukraine.
Oil prices jumped to the highest level since 2008 amid fears
that a ban on Russian oil would have a major impact on supplies to
the market.
In a phone call with Turkish President Tayyip Erdogan, Russian
President Vladimir Putin said on Sunday his military operation in
Ukraine is progressing according to plan and would not cease
without meeting his demands or Kyiv stops fighting.
An attempt to evacuate 200,000 people from the Ukrainian city of
Mariupol failed again on Sunday, as Russian forces violated the
ceasefire plan.
The aussie appreciated to near a 4-month high of 0.7441 against
the greenback and more than a 4-month high of 85.51 against the
yen, from its early lows of 0.7355 and 84.45, respectively. The
aussie is seen finding resistance around 0.76 against the greenback
and 88.00 against the yen.
The aussie rose to a 4-1/2-year high of 1.4563 against the euro
and near a 1-year high of 0.9462 against the loonie, off its early
lows of 1.4825 and 0.9370, respectively. The next possible
resistance for the aussie is seen around 1.43 against the euro and
0.96 against the loonie.
The aussie recovered to 1.0762 against the kiwi, from a 5-day
low of 1.0723 seen earlier in the session. On the upside, 1.09 is
possibly seen as the next resistance level.
The kiwi climbed to a 4-1/2-year high of 1.5641 against the
euro, 3-1/2-month highs of 0.6926 against the greenback and 79.58
against the yen, after falling to 1.5946, 0.6838 and 78.55,
respectively in prior deals. Next key resistance for the kiwi is
seen around 1.54 against the euro, 0.72 against the greenback and
78.55 against the yen.
Looking ahead, Eurozone Sentix investor confidence index for
March will be out in the European session.
U.S. consumer credit for January will be featured 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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