FOREX TradingCharts.com

Forex News: NZ Dollar Advances, U.S. Dollar Drops On Upbeat

NZ Dollar Advances, U.S. Dollar Drops On Upbeat Japan, China Data

11/16/2020 - 03:07:00 (RTTNews)

(RTTNews) - The NZ dollar climbed and the U.S. dollar fell in the Asian session on Monday, as strong Japan and China data suggested a rebound in the world's second and third largest economies.

The Japanese economy grew more than expected in the third quarter, as improved exports and consumption helped the country emerge from the virus crisis.

China retail sales improved from last month, while industrial output matched expectations, government data showed.

Investors also were encouraged by the news of the ASEAN trade deal aimed to accelerate the economic recovery from the coronavirus-induced slowdown.

Asia Pacific nations including China, Japan and South Korea on Sunday signed the world's largest free-trade agreement.

The Regional Comprehensive Economic Partnership deal reduces tariffs, accelerates the service sector and lays down common trade rules within the bloc.

The kiwi strengthened to 4-day highs of 0.6890 against the greenback, 72.02 against the yen, 1.7203 against the euro, after falling to 0.6840, 71.56 and 1.7294, respectively in previous deals. The kiwi is poised to find resistance around 0.70 against the greenback, 74.00 against the yen, 1.66 against the euro.

The kiwi appreciated to 1.0588 against the aussie, following a decline to 1.0623 at 6:15 pm ET. Next key resistance for the kiwi is seen around the 1.03 level.

The greenback pulled back from its early highs of 104.72 against the yen and 1.1829 against the euro, weakening to 1-week lows of 104.49 and 1.1855, respectively. If the greenback falls further, 101.00 and 1.20 are possibly seen as its next support levels against the yen and the euro, respectively.

The greenback hit 5-day lows of 1.3234 against the pound and 0.7298 against the aussie, down from its prior highs of 1.3174 and 0.7263, respectively. The greenback is seen finding support around 1.34 against the pound and 0.75 versus the aussie.

Retreating from a high of 1.3136 seen at 5:30 pm ET, the greenback dipped to a 4-day low of 1.3097 against the loonie. The next possible support for the currency is seen around the 1.29 level.

The greenback edged down to 0.9114 against the franc early in the session and was steady thereafter. The greenback is likely to find support near the 0.90 level.

Looking ahead, Canada manufacturing sales for September and New York Fed's empire manufacturing survey for November are scheduled for release 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


Pound Weakens Amid Brexit Concerns (11 hr(s), 08 min(s), 09 sec(s) ago)
(RTTNews) - The pound dropped against its major rivals in the European session on Friday, as Brexi ...Full Story»

Australian Dollar Climbs On Strong China Data (14 hr(s), 23 min(s), 09 sec(s) ago)
(RTTNews) - The Australian dollar appreciated against its most major counterparts in the European ...Full Story»

Euro Little Changed After Eurozone Economic Confidence Index (15 hr(s), 35 min(s), 09 sec(s) ago)
(RTTNews) - At 5.00 am ET Friday, the European Commission has published economic confidence survey ...Full Story»

Euro Mixed Ahead Of Eurozone Economic Confidence Index (15 hr(s), 44 min(s), 09 sec(s) ago)
(RTTNews) - At 5.00 am ET Friday, the European Commission is set to publish economic confidence su ...Full Story»

Euro Little Changed After German Import Prices (18 hr(s), 35 min(s), 09 sec(s) ago)
(RTTNews) - Following the release of German import prices for October at 2.00 am ET Friday, the eu ...Full Story»

Euro Mixed Ahead Of German Import Prices (18 hr(s), 44 min(s), 08 sec(s) ago)
(RTTNews) - At 2.00 am ET Friday, Destatis is set to issue Germany's import prices for October ...Full Story»

Euro Drops Further After ECB Minutes (13 hr(s), 08 min(s), 09 sec(s) ago)
(RTTNews) - Following the release of the European Central Bank's account of the monetary polic ...Full Story»

Euro Falls Vs Most Majors Ahead Of ECB Minutes (13 hr(s), 17 min(s), 09 sec(s) ago)
(RTTNews) - At 7.30 am ET Thursday, the European Central Bank releases the account of the monetary ...Full Story»

Search

FOREX NEWS

Pound Weakens Amid Brexit Concerns

11/27/2020 - 09:35 AM (RTTNews)
(RTTNews) - The pound dropped against its major rivals in the European session on Friday, as Brexi ...Full Story>>

Australian Dollar Climbs On Strong China Data

11/27/2020 - 06:19 AM (RTTNews)
(RTTNews) - The Australian dollar appreciated against its most major counterparts in the European ...Full Story>>

Euro Little Changed After Eurozone Economic Confidence Index

11/27/2020 - 05:06 AM (RTTNews)
(RTTNews) - At 5.00 am ET Friday, the European Commission has published economic confidence survey ...Full Story>>

Euro Mixed Ahead Of Eurozone Economic Confidence Index

11/27/2020 - 04:58 AM (RTTNews)
(RTTNews) - At 5.00 am ET Friday, the European Commission is set to publish economic confidence su ...Full Story>>

Euro Little Changed After German Import Prices

11/27/2020 - 02:06 AM (RTTNews)
(RTTNews) - Following the release of German import prices for October at 2.00 am ET Friday, the eu ...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.