Forex - NZD/USD hits 2-day high, tracking Australian dollar higher
Investing.com
Published Apr 20, 2011 03:17AM ET
NZD/USD hit 0.7957 during late Asian trade, the pair’s highest since Monday; the pair subsequently consolidated at 0.7943, gaining 0.71%.
The pair was likely to find support at 0.7820, Tuesday’s low and a one-week low and resistance at 0.8001, Monday’s high and a multi-year high.
The Aussie’s gains came after official data showed that Australian export prices rose faster than import prices in the first quarter, fuelling expectations for fresh rate increases by the Reserve Bank of Australia this year.
The kiwi was also supported by the latest auction of global dairy giant Fonterra, where dairy commodity prices inched higher after falling in the previous two sales.
The kiwi was also higher against the yen, with NZD/JPY rallying 0.98% to hit 65.77.
Later Wednesday, the U.S. was to publish industry data on existing 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.