FOREX TradingCharts.com

Forex News: Australian, NZ Dollars Strengthen After Friday's Sell-off

Australian, NZ Dollars Strengthen After Friday's Sell-off

11/29/2021 - 03:13:00 (RTTNews)

(RTTNews) - The Australian and NZ dollars moved up against their most major counterparts in the Asian session on Monday, as calm returned to markets, with investors assessing that Friday's sell-off following Omicron's discovery had gone too far.

Some of the concerns over the omicron COVID-19 strain eased after South African health experts suggested that it is showing mild symptoms so far.

German biotechnology company BioNTech said that it could determine in two weeks whether its current vaccine would be sufficiently effective against the Omicron variant.

Atlanta Fed President Raphael Bostic said on Friday that the economic fallout from the new variant is likely to be less severe than the delta virus.

European Central Bank President Christine Lagarde said that the bloc is better equipped to respond to a risk of a fifth wave or the Omicron variant.

The aussie rose to 1.5766 against the euro, 0.7148 against the greenback and 0.9106 against the loonie, off its early lows of 1.5894, 0.7115 and 0.9074, respectively. The next likely resistance for the aussie is seen around 1.54 against the euro, 0.73 against the greenback and 0.92 against the loonie.

After falling to a 5-day low of 1.0419 at 5 pm ET, the aussie edged up to 1.0466 against the kiwi and held steady thereafter. On the upside, 1.06 is possibly seen as its next resistance level.

In contrast, the aussie retreated to 80.65 against the yen, from a high of 81.34 seen earlier in the session. If the aussie falls further, it may test support around the 78.00 level.

The NZ currency appreciated to 0.6837 against the greenback and 1.6486 against the euro, following its prior lows of 0.6807 and 1.6602, respectively. The kiwi is likely to challenge resistance around 0.70 against the greenback and 1.62 against the euro.

The kiwi, meanwhile, pulled back from an early high of 77.79 against the yen, with the pair trading at 77.13. The kiwi is poised to find support around the 75.00 level.

Looking ahead, U.K. mortgage approvals for October and Eurozone economic confidence index for November are due in the European session.

At 8:00 am ET, German preliminary CPI for November is scheduled for release.

Canada industrial product price index and U.S. pending home sales for October will be released in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Little Changed After U.S. GDP Data (15 hr(s), 14 min(s), 24 sec(s) ago)
(RTTNews) - U.S. advance GDP data for the fourth quarter, weekly jobless claims for the week ended ...Full Story»

Dollar Higher Ahead Of U.S. GDP Data (15 hr(s), 20 min(s), 24 sec(s) ago)
(RTTNews) - U.S. advance GDP data for the fourth quarter, weekly jobless claims for the week ended ...Full Story»

Australian, NZ Dollars Decline; Yen Rises As Asian Stocks Fall On Hawkish Fed Statement (20 hr(s), 26 min(s), 24 sec(s) ago)
(RTTNews) - The Australian and New Zealand dollars fell against their major counterparts in the As ...Full Story»

U.S. Dollar Climbs Before Fed Announcement (16 hr(s), 14 min(s), 24 sec(s) ago)
(RTTNews) - The U.S. dollar drifted higher against its most major counterparts in the European ses ...Full Story»

Canadian Dollar Higher Ahead Of BoC Policy Decision (19 hr(s), 50 min(s), 24 sec(s) ago)
(RTTNews) - The Canadian dollar advanced against its major counterparts in the Asian session on We ...Full Story»

U.S. Dollar Firms With Fed Meeting In Focus (13 hr(s), 29 min(s), 23 sec(s) ago)
(RTTNews) - The U.S. dollar climbed against its major counterparts in the European session on Tues ...Full Story»

Swiss Franc Falls As European Stocks Rebound (16 hr(s), 11 min(s), 24 sec(s) ago)
(RTTNews) - The Swiss franc weakened against its major counterparts in the European session on Wed ...Full Story»

Indian Rupee Drops To Near 4-week Low Against U.S. Dollar (19 hr(s), 41 min(s), 24 sec(s) ago)
(RTTNews) - The Indian rupee depreciated against the U.S. dollar in afternoon deals on Tuesday, af ...Full Story»

Search

FOREX NEWS

Dollar Little Changed After U.S. GDP Data

01/27/2022 - 08:34 AM (RTTNews)
(RTTNews) - U.S. advance GDP data for the fourth quarter, weekly jobless claims for the week ended ...Full Story>>

Dollar Higher Ahead Of U.S. GDP Data

01/27/2022 - 08:29 AM (RTTNews)
(RTTNews) - U.S. advance GDP data for the fourth quarter, weekly jobless claims for the week ended ...Full Story>>

Australian, NZ Dollars Decline; Yen Rises As Asian Stocks Fall On Hawkish Fed Statement

01/27/2022 - 03:22 AM (RTTNews)
(RTTNews) - The Australian and New Zealand dollars fell against their major counterparts in the As ...Full Story>>

U.S. Dollar Climbs Before Fed Announcement

01/26/2022 - 07:33 AM (RTTNews)
(RTTNews) - The U.S. dollar drifted higher against its most major counterparts in the European ses ...Full Story>>

Canadian Dollar Higher Ahead Of BoC Policy Decision

01/26/2022 - 03:57 AM (RTTNews)
(RTTNews) - The Canadian dollar advanced against its major counterparts in the Asian session on We ...Full Story>>

Do not sell my personal information

Copyright © 2022. 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.