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Forex: Kiwi edging lower in Asia trade

FXstreet.com (Barcelona) - The Kiwi is adding to losses from the previous day, down another 25 pips in Asia trade at 0.8375. Economic data out New Zealand has been light this evening, but there have been notable comments from NZ Finance Minister English which hit the tape earlier in the session.

According to Eamonn Sheriden of Forex Live, “New Zealand finance minister English: Doesn’t expect the RBNZ to target the exchange rate. Furthermore, high currency has been a headwind to rebalancing and RBNZ has a mandate to conduct currency intervention.”

The FXStreet.com Trend Index remains in Strongly Bearish set up on the 1 hour chart, while the OB/OS Index reads Neutral. Initial support sits at 0.8352 (previous day support), followed by 0.8320(previous resistance, now support on daily chart). First resistance sits at 0.8420 (bearish engulf candle on 30min), followed by 0.8471 (the 9dma)

Session Recap: Yen extends loses; Nikkei prints fresh 5-year high

Another Asia-Pacific session of consolidation in recent USD gains to end the week, with further Yen weakness to fresh 4-year highs at 101.20 USD/JPY, breaching the 101.00 options related barrier. Yen printed fresh multi-year lows on the back of Nikkei climbing to fresh 5-year highs above the 14600 points figure, following Tokyo open and better than previous foreign bond purchases from Japan.
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Nikkei index posts fresh 5-year highs

The continued Yen weakness has shifted attention to Tokyo and the Nikkei index that has posted a fresh 5-year high above the 14600 points mark, highest level since January 2008, when USD/JPY was around the 110 figure. Other local share markets also show gains like the Australian ASX rising +0.35%, or the Shanghai Composite Index barely in the positive by +0.05%.
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