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Forex News: Australian, NZ Dollars Advance On Easing Omicron Worries

Australian, NZ Dollars Advance On Easing Omicron Worries

12/23/2021 - 03:12:00 (RTTNews)

(RTTNews) - The Australian and NZ dollars climbed against their major opponents in the Asian session on Thursday, as Asian shares followed Wall Street higher amid indications that the Omicron variant is less severe than the delta version.

Research from Imperial College London indicated that the risk of hospitalization for patients infected with the Omicron variant is 40% to 45% lower than Delta cases.

A study in South Africa found that the omicron variant appeared to have a less severe impact than the earlier variants and there is a reduced risk of hospitalizations than in previous waves.

The White House said that Democrats will continue negotiations with Senator Joe Manchin on the Build Back Better Act with a vote planned in early 2022.

President Joe Biden insisted that he wanted to "get something done" on the plan targeting social benefits and climate change.

Data from the Reserve Bank of Australia showed that Australia private sector credit rose 0.9 percent on month in November - accelerating from 0.5 percent in October.

On a yearly basis, credit spiked 6.6 percent, rising from 5.7 percent in the previous month.

The aussie rose to 0.7220 against the greenback and 82.47 against the yen, off its early lows of 0.7196 and 82.09, respectively. The aussie is poised to find resistance around 0.74 against the greenback and 84.00 against the yen.

The aussie rebounded to 1.5703 against the euro, from a low of 1.5757 set at 9:15 pm ET. On the upside, 1.54 is seen as its next likely resistance level.

The aussie firmed to more than a 2-month high of 1.0603 against the kiwi in early deals and held steady thereafter. At yesterday's trading close, the pair was quoted at 1.0585.

The aussie reached as high as 0.9271 against the loonie at 7 pm ET and held steady in subsequent trading. The pair had closed yesterday' deals at 0.9256.

The kiwi touched 1-week highs of 0.6827 against the greenback and 1.6594 against the euro, up from its previous lows of 0.6795 and 1.6686, respectively. The kiwi is seen finding resistance around 1.64 against the euro and 0.70 against the greenback.

The kiwi touched near a 4-week high of 78.00 against the yen, up from a low of 77.56 seen at 9:15 pm ET. If the kiwi rises further, 79.00 is likely seen as its next resistance level.

Looking ahead, Canada GDP data for October, U.S. weekly jobless claims for the week ended December 18, University of Michigan's final consumer sentiment index for December, durable goods orders, new home sales and personal income and spending data, all for November, are due out in the New York session.

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