Alerts

AUDUSD & NZDUSD Lifted on Commerce Conflict Aid as Trump Affords Deadline Extension

AUD & NZDValue Evaluation and Speaking Factors:

Commerce Conflict Aid Boosting Danger Urge for food

Robust NZ Knowledge Additionally Underpins Kiwi, Eyes on RBNZ Communicate

See our quarterly AUD forecast to be taught what is going to drive costs byout Q1!

Commerce Conflict Aid Boosting Danger Urge for food

Each the Aussie and Kiwi gained on the again of feedback by President Trump, during which he said that he would delay the deliberate tariff enhance on Chinese language imports (Deadline March 1st) and that he can be trying to have summit with President Xi as soon as an settlement may be reached. Consequently, antipodeans are outperforming throughout the board with AUD and NZD hitting highs of Zero.7160 and Zero.6883 respectively.

Robust NZ Knowledge Additionally Underpins Kiwi, Eyes on RBNZ Communicate

The Kiwi has additionally discovered assist from sturdy NZ retail gross sales quantity figures, whereby the headline determine surged 1.7%, which was a notable pick-up from the flat studying within the prior quarter. As such, this implies that New Zealand’s economic system on the backend of the yr remained comparatively sturdy, which in flip poses upside dangers to This autumn GDP information. In flip, AUDNZD has edged again down in the direction of 1.04. Nevertheless, eyes at the moment are set on RBNZ Deputy Governor Bascand, who’s scheduled to talk at 2330GMT. As a reminder, Bascand final week opened up the chance for the central financial institution to chop charges over proposals to extend financial institution capital necessities.

AUDUSD PRICE CHART: Day by day Time-Body (Dec 2017-Feb 2019)

AUDUSD & NZDUSD Lifted on Trade War Relief as Trump Offers Deadline Extension

Chart by IG

AUDUSD edging in the direction of the Zero.72 deal with, which might cap additional upside for now. A closing break above nevertheless, leaves scope for a transfer to Zero.7260-Zero.7270.

NZDUSD PRICE CHART: Day by day Time-Body (Aug 2018 – Feb 2019)

AUDUSD & NZDUSD Lifted on Trade War Relief as Trump Offers Deadline Extension

NZDUSD eyes a take a look at of near-term topside resistance at Zero.69, whereas the 2019 excessive at Zero.6940 might additionally restrict additional beneficial properties.

FX TRADING RESOURCES:

— Written by Justin McQueen, Market Analyst

To contact Justin, e mail him at Justin.mcqueen@ig.com

Comply with Justin on Twitter @JMcQueenFX


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