Forex - NZD/USD advances to 3-day high as Greek vote eyed
Investing.com
Published Jun 29, 2011 03:04AM ET
NZD/USD hit 0.8145 during late Asian trade, the pair’s highest since June 24; the pair subsequently consolidated at 0.8138, rising 0.20%.
The pair was likely to find support at 0.8024, Tuesday’s low and resistance at 0.8123, the high of June 22 and a one-week high.
Greece's parliament was due to vote on an unpopular national austerity plan later in the day. The plan needed to pass for the indebted nation to secure a EUR12 billion tranche of bailout funds from the European Union and International Monetary Fund.
If the plan is not passed, it could result in the euro zone’s first sovereign debt default, as Greece needs to cover EUR6.6 billion of bonds maturing in August.
Market sentiment received a boost after German lenders agreed to consider rolling over approximately EUR8 billion in Greek debt, provided there were assurances that the terms of the deal would not be seen by ratings agencies as putting Greece into default.
Meanwhile, the kiwi was lower against its Australian cousin, with AUD/NZD rising 0.20% to hit 1.3001.
Also Wednesday, the U.S. was to publish industry data on pending home sales.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.