Australian, NZ Dollars Drop; Yen Advances On Rising Recession Fears
The Australian and NZ dollars fell against their major
counterparts in the Asian session on Friday, while the yen climbed,
amid rising risk aversion as aggressive rate hikes from the Federal
Reserve to curb inflation intensified recession fears.
The Fed's preferred inflation measure held around multi-decade
highs in May and a measure of U.S. consumer spending fell in May
for the first time this year and prior months were revised lower,
underlining the gloomy outlook.
Oil extended overnight losses as OPEC+ said that it would stick
to moderate increases in oil production in August.
Sentiment at Japan's large manufacturers worsened in the
April-to-June period, the Bank of Japan's quarterly tankan business
survey showed, rekindling worries about the world's third largest
In economic news, the manufacturing sector in Australia
continued to expand in June, the latest survey from S&P Global
showed, with a manufacturing PMI score of 56.2.
That's up from 55.7 in May and it moves further above the
boom-or-bust line of 50 that separates expansion from
The aussie declined to more than 2-year lows of 0.6805 against
the greenback and 0.8798 against the loonie, reversing from its
early highs of 0.6903 and 0.8887, respectively. The next possible
support for the aussie is seen around 0.66 against the greenback
and 0.86 against the loonie.
The aussie depreciated to a 3-day low of 1.1015 against the
kiwi, 8-day low of 1.5343 versus the euro and more than a 4-week
low 91.86 against the yen, off its prior highs of 1.1065, 1.5172
and 93.79, respectively. The aussie is likely to find support
around 1.08 against the kiwi, 1.55 versus the euro and 89.5 against
Retreating from its prior highs of 0.6247 against the greenback,
84.85 against the yen and 1.6770 against the euro, the kiwi slipped
to more than a 2-year low of 0.6171, more than 2-week low of 83.22
and more than a 4-month low of 1.6940, respectively. The currency
may face support around 0.60 against the greenback, 80.00 against
the yen and 1.71 against the euro.
The yen touched 4-day highs of 140.83 against the franc, 134.74
against the greenback and 104.26 against the loonie, up from its
previous lows of 142.32, 135.99 and 105.66, respectively. The
currency is seen facing resistance around 132.00 against the franc,
124.00 against the greenback and 99.00 against the loonie.
The yen appreciated to 2-week highs of 140.83 against the euro
and 163.26 against the pound, after dropping to 142.43 and 165.31,
respectively in early deals. Next immediate resistance for the yen
is seen around 136.00 against the euro and 156.00 against the
Looking ahead, PMI reports from major European economies, as
well as U.K. mortgage approvals for May and Eurozone flash
inflation for June are due in the European session.
U.S. ISM manufacturing PMI for June and construction spending
for May are set for release in the New York session.
Euro vs Yen (FX:EURJPY)
から 7 2022 まで 8 2022
Euro vs Yen (FX:EURJPY)
から 8 2021 まで 8 2022