OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/NZD falls sharply below 1.0900 on a stronger kiwi

FXStreet (Córdoba) - AUD/NZD suffered on Friday the biggest daily loss in more than a month amid a stronger New Zealand dollar, boosted by risk appetite and a recovery in commodity prices.

The pair broke below Tuesday's lows located around 1.0930 and accelerated to the downside. It bottomed at 1.0865, the lowest level in three weeks. It was about to end the week under 1.0900.

AUD/NZD bearish ahead of RBNZ

Friday’s decline pushed the price below the 20-day MA that stands at 1.0935 for the first time in a month. Also the pair broke an important support at 1.0930 and is now testing 1.0850 that capped the downside in early October and the upside in November.

Next week there will be two key events related with AUD/NZD. On Wednesday after Wall Street (early Thursday in NZ) the Reserve Bank of New Zealand will announce its decision on monetary policy; a 25 basis points rate cut is expected. Later on Thursday, in Australia the November employment report will be released.

EUR/USD: making session lows on Draghi jawboning

EUR/USD is making new session lows on Draghi's comments. After yesterday's bad behaviour from him, one might expect some jawboning with the euro rallying yesterday the furthest it has done in six years. "More stimulus can be deployed if need be...while 680b EUR is added in liquidity" was the catalyst and the euro was 40 pips lower to session lows of 1.0836 before a recovery back into the 1.0870's at time of writing.
Read more Previous

November NFP gives Yellen green light for liftoff - Danske

According to analysts from Danske Bank the November jobs report numbers should make the Federal Reserve more comfortable about rising rates in December.
Read more Next
Start livechat