FOREX TradingCharts.com

Forex News: Australian, NZ Dollars Lower On Rising U.S-China Tensions

Australian, NZ Dollars Lower On Rising U.S-China Tensions

07/24/2020 - 03:38:00 (RTTNews)

(RTTNews) - The Australian and NZ dollars fell against their major counterparts in the Asian session on Friday, as U.S.-China tensions escalated after China ordered the closure of the U.S. consulate in the southwestern city of Chengdu.

The move was in retaliation for the closure of the Chinese consulate in Houston following allegations of spying.

Flash data from IHS Markit showed that Australia's private sector gathered momentum in July following the downturn caused by the coronavirus pandemic.

The flash Commonwealth Bank composite output index rose to 57.9 in July from 52.7 in June. A score above 50 indicates expansion in the sector.

The aussie declined to 3-day lows of 1.0686 against the kiwi and 0.7074 against the greenback, reversing from its early highs of 1.0714 and 0.7125, respectively. The next likely support for the aussie is seen around 1.045 against the kiwi and 0.68 against the greenback.

The aussie also slipped to 3-day lows of 75.31 against the yen and 0.9497 against the loonie, from its previous highs of 75.97 and 0.9536, respectively. The aussie is poised to challenge support around 72.00 against the yen and 0.92 against the loonie.

The aussie dropped to a 4-day low of 1.6389 against the euro, down from an early high of 1.6302. Next immediate support for the aussie is seen near the 1.66 region.

The kiwi recorded 3-day lows of 0.6618 against the greenback and 70.43 against the yen, after rising to 0.6654 and 70.92, respectively in early deals. The kiwi is seen challenging support around 0.63 against the greenback and 68.00 against the yen.

The kiwi depreciated to more than a 3-week low of 1.7530 against the euro, following a high of 1.7456 hit at 9:00 pm ET. On the downside, 1.78 is possibly seen as its next support level.

Looking ahead, PMI reports from major European economies are due in the European session.

U.S. new home sales for June will be featured in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Little Changed After U.S. PPI (06 hr(s), 27 min(s), 51 sec(s) ago)
(RTTNews) - U.S. producer price index for July has been released at 8:30 am ET Tuesday. Following ...Full Story»

Dollar Falls Vs Most Majors Ahead Of PPI (06 hr(s), 33 min(s), 51 sec(s) ago)
(RTTNews) - At 8:30 am ET Tuesday, U.S. producer price index for July is set for release. Ahead of ...Full Story»

Loonie Little Changed After Canada Housing Starts (06 hr(s), 39 min(s), 50 sec(s) ago)
(RTTNews) - At 8:15 am ET Tuesday, Canada housing starts for July have been released. After the da ...Full Story»

Loonie Rallies Ahead Of Canada Housing Starts (06 hr(s), 48 min(s), 51 sec(s) ago)
(RTTNews) - At 8:15 am ET Tuesday, Canada housing starts for July are due. Ahead of the data, the ...Full Story»

Euro Climbs On Stimulus Hopes (06 hr(s), 57 min(s), 51 sec(s) ago)
(RTTNews) - The euro turned higher against its major counterparts in the European session on Tuesd ...Full Story»

Euro Little Changed After German ZEW Economic Sentiment Survey (09 hr(s), 54 min(s), 51 sec(s) ago)
(RTTNews) - At 5.00 am ET Tuesday, Germany's ZEW economic sentiment survey results have been r ...Full Story»

Euro Advances Ahead Of German ZEW Economic Sentiment Survey (10 hr(s), 03 min(s), 51 sec(s) ago)
(RTTNews) - At 5.00 am ET Tuesday, Germany's ZEW economic confidence survey results are due. T ...Full Story»

Australian, NZ Dollars Higher Amid Rising Risk Appetite (11 hr(s), 0 min(s),50 sec(s) ago)
(RTTNews) - The Australian and NZ dollars moved up against their major counterparts in the Asian s ...Full Story»

Search

FOREX NEWS

Dollar Little Changed After U.S. PPI

08/11/2020 - 08:32 AM (RTTNews)
(RTTNews) - U.S. producer price index for July has been released at 8:30 am ET Tuesday. Following ...Full Story>>

Dollar Falls Vs Most Majors Ahead Of PPI

08/11/2020 - 08:26 AM (RTTNews)
(RTTNews) - At 8:30 am ET Tuesday, U.S. producer price index for July is set for release. Ahead of ...Full Story>>

Loonie Little Changed After Canada Housing Starts

08/11/2020 - 08:20 AM (RTTNews)
(RTTNews) - At 8:15 am ET Tuesday, Canada housing starts for July have been released. After the da ...Full Story>>

Loonie Rallies Ahead Of Canada Housing Starts

08/11/2020 - 08:09 AM (RTTNews)
(RTTNews) - At 8:15 am ET Tuesday, Canada housing starts for July are due. Ahead of the data, the ...Full Story>>

Euro Climbs On Stimulus Hopes

08/11/2020 - 08:00 AM (RTTNews)
(RTTNews) - The euro turned higher against its major counterparts in the European session on Tuesd ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.