Australian, NZ Dollars Drop Amid Growth Fears
09 Maggio 2022 - 8:41AM
RTTF2
The Australian and NZ dollars fell against their major
counterparts in the European session on Monday, as tightening of
COVID-19 restrictions in China's two biggest cities, as well as the
Federal Reserve's monetary policy tightening fueled concerns about
a slowdown in global growth.
Beijing and Shanghai intensified restrictions as part of the
effort to drive infections down to zero.
In Shanghai, some residents in at least four of its 16 districts
were told to stay at their homes or prevented from receiving
deliveries amid zero-Covid policy.
Authorities have ordered residents in worst-hit areas of Beijing
to work from home and blocked off more roads, compounds and parks
to contain the worst outbreak since 2020.
China's export growth slowed to the weakest in almost two years
and imports were barely changed in April, adding to concerns over
the economic outlook.
The aussie dropped to multi-month lows of 0.9048 against the
loonie and 0.6993 against the greenback, from its early highs of
0.9125 and 0.7070, respectively. The aussie is seen locating
support around 0.88 against the loonie and 0.68 against the
greenback.
Reversing from its early highs of 92.32 against the yen and
1.4894 against the euro, the aussie slipped to a 1-week low of
91.61 and a 2-week low of 1.5023, respectively. The currency may
seek support around 90.00 against the yen and 1.52 against the
euro.
The kiwi dipped to near a 2-year low of 0.6337 against the
greenback, 1-1/2-month low of 82.99 against the yen and more than a
2-month low of 1.6588 against the euro, off its early highs of
0.6413, 83.68 and 1.6426, respectively. If the kiwi slides further,
it may find support around 0.62 against the greenback, 80.00
against the yen and 1.68 against the euro.
The kiwi eased to 1.1053 against the aussie, after rising to a
6-day high of 1.1001 in early deals. On the downside, 1.12 is
likely seen as its next support level.
Grafico Cross NZD vs Yen (FX:NZDJPY)
Da Ago 2024 a Set 2024
Grafico Cross NZD vs Yen (FX:NZDJPY)
Da Set 2023 a Set 2024