Antipodean Currencies Rise As Crude Oil Prices Traded Higher
2024年12月30日 - 9:27AM
RTTF2
The Antipodean currencies such as the Australia and the New
Zealand dollars strengthened against their major currencies in the
Asian session on Tuesday, as the crude oil prices climbed higher
after data showed a sharp drop in U.S. crude inventories in the
week ended December 20th. The ongoing conflict between Russia and
Ukraine, and expectations of increased demand from China following
the recent stimulus measures contributed as well to the rise in oil
prices.
West Texas Intermediate Crude oil futures for February settled
at $70.60 a barrel, gaining about 1.4%. Brent crude futures
advanced 1.2% to $74.17 a barrel.
Data from the Energy Information Administration (EIA) said crude
inventories in the U.S. fell by 4.2 million barrels last week, much
higher than an expected drop of 1.9 million barrels.
Optimism about demand from China has increased following the
World Bank raising its forecast for Chinese economic growth in 2024
and 2025.
Chinese authorities have agreed to issue special treasury bonds
worth 3 trillion yuan ($411 billion) next year, as Beijing acts to
revive the sluggish economy, according to a Reuters report earlier
this week.
Traders anticipate the outlook for fewer Fed rate cuts in
2025.
In the Asian trading today, the Australian dollar rose to nearly
a 2-week high of 98.52 against the yen and a 6-day high of 0.8989
against the Canadian dollar, from Friday's closing quotes of 98.09
and 0.8954, respectively. If the aussie extends its uptrend, it is
likely to find resistance around 99.00 against the yen and 0.91
against the loonie.
Against the U.S. dollar and the euro, the aussie advanced to
4-day highs of 0.6243 and 1.6699 from last week's closing quotes of
0.6215 and 1.6761, respectively. On the upside, 0.64 against the
greenback and 1.64 against the euro are seen as the next resistance
levels for the aussie.
The aussie edged up to 1.1046 against the NZ dollar, from
Friday's closing value of 1.1033. The next possible upside target
for the aussie is seen around the 1.12 region.
The NZ dollar rose to nearly a 2-week high of 89.31 against the
yen, from Friday's closing value of 88.88. If the kiwi extends its
uptrend, it is likely to find resistance around the 91.00
region.
Against the U.S. dollar and the euro, the kiwi advanced to 4-day
highs of 0.5657 and 1.8421 from last week's closing quotes of
0.5623 and 1.8511, respectively. The kiwi may test resistance
around 0.58 against the greenback and 1.81 against the euro.
Looking ahead, Canada CFIB business barometer for December, U.S.
Chicago PMI for December, pending home sales for November and U.S.
Dallas Fed manufacturing index for December are slated for
release.
AUD vs NZD (FX:AUDNZD)
FXチャート
から 12 2024 まで 1 2025
AUD vs NZD (FX:AUDNZD)
FXチャート
から 1 2024 まで 1 2025
