FOREX TradingCharts.com

Forex News: NZ Dollar Falls Amid Risk Aversion

NZ Dollar Falls Amid Risk Aversion

03/12/2021 - 08:01:00 (RTTNews)

(RTTNews) - The NZ dollar declined against its major counterparts in the European session on Friday, as progress in vaccinations and the approval of the stimulus package lifted U.S. bond yields, weighing on European shares.

U.S. President Joe Biden signed the $1.9 trillion stimulus package into law on Thursday, enabling Americans to receive direct payments by this weekend.

In his televised address, Biden pledged aggressive action to speed vaccinations and move the country closer to normality by July 4.

The 10-year Treasury yield hit 1.6 percent as investors assessed the prospect of higher inflation.

The latest survey from BusinessNZ showed that New Zealand's manufacturing sector continued to expand in February, albeit at a slower pace, with a Performance of Manufacturing Index score of 53.4.

That's down from the upwardly revised 58.0 in January (originally 57.5), although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

The International Monetary Fund cautioned that New Zealand housing market is likely to undergo a pronounced correction.

Concluding the Article IV discussions, IMF staff said rising speculative demand for housing, along with historically low interest rates and structural housing supply shortages, is amplifying the housing cycle and heightens financial stability and affordability concerns.

The kiwi fell to more than a 2-week low of 1.0807 against the aussie, from a high of 1.0765 set in the Asian session. On the downside, 1.10 is possibly seen as the next support level for the kiwi.

The kiwi declined to 2-day lows of 0.7160 against the greenback and 1.6643 against the euro, off its early highs of 0.7233 and 1.6566, respectively. If the kiwi extends decline, 0.70 and 1.72 are possibly seen as its next support levels against the greenback and the euro, respectively.

The NZ currency touched 78.03 against the yen, down from a high of 78.61 seen at 8:30 pm ET. The kiwi is poised to target support around the 76.00 mark.

Looking ahead, Canada jobs data and U.S. PPI for February and University of Michigan's preliminary U.S. consumer sentiment index for March will be featured 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. Consumer Sentiment Index (06 hr(s), 29 min(s), 29 sec(s) ago)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for April has be ...Full Story»

Dollar Steady Before U.S. Consumer Sentiment Index (06 hr(s), 35 min(s), 29 sec(s) ago)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for April is due ...Full Story»

Dollar Little Changed Following U.S. Housing Starts Data (07 hr(s), 56 min(s), 29 sec(s) ago)
(RTTNews) - After the release of U.S. housing starts and building permits for March at 8.30 am ET ...Full Story»

Dollar Mixed Ahead Of U.S. Housing Starts Data (08 hr(s), 05 min(s), 29 sec(s) ago)
(RTTNews) - The U.S. housing starts and building permits for March will be published at 8.30 am ET ...Full Story»

Loonie Mixed Ahead Of Canada Housing Starts (08 hr(s), 20 min(s), 29 sec(s) ago)
(RTTNews) - At 8:15 am ET Friday, Canada housing starts for March are due. Ahead of the data, the ...Full Story»

Japanese Yen Falls On Economic Optimism (09 hr(s), 23 min(s), 29 sec(s) ago)
(RTTNews) - The Japanese yen dropped against its key counterparts during the European session on F ...Full Story»

Euro Little Changed After Eurozone CPI (11 hr(s), 26 min(s), 28 sec(s) ago)
(RTTNews) - At 5.00 am ET Friday, Eurostat has released final consumer prices and foreign trade da ...Full Story»

Euro Mixed Ahead Of Eurozone CPI (11 hr(s), 32 min(s), 29 sec(s) ago)
(RTTNews) - At 5.00 am ET Friday, Eurostat publishes final consumer prices and foreign trade data. ...Full Story»

Search

FOREX NEWS

Dollar Little Changed After U.S. Consumer Sentiment Index

04/16/2021 - 10:04 AM (RTTNews)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for April has be ...Full Story>>

Dollar Steady Before U.S. Consumer Sentiment Index

04/16/2021 - 09:57 AM (RTTNews)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for April is due ...Full Story>>

Dollar Little Changed Following U.S. Housing Starts Data

04/16/2021 - 08:36 AM (RTTNews)
(RTTNews) - After the release of U.S. housing starts and building permits for March at 8.30 am ET ...Full Story>>

Dollar Mixed Ahead Of U.S. Housing Starts Data

04/16/2021 - 08:28 AM (RTTNews)
(RTTNews) - The U.S. housing starts and building permits for March will be published at 8.30 am ET ...Full Story>>

Loonie Mixed Ahead Of Canada Housing Starts

04/16/2021 - 08:12 AM (RTTNews)
(RTTNews) - At 8:15 am ET Friday, Canada housing starts for March are due. Ahead of the data, the ...Full Story>>

Do not sell my personal information

Copyright © 2021. 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.