NZ Dollar Higher Amid Rising Risk Appetite
The NZ dollar appreciated against its major counterparts in the
Asian session on Thursday, as most Asian stock markets rose
following a tech rebound on Wall Street and on data showing a
significant increase in Japanese core machines orders in the month
Crude oil prices rebounded strongly after tumbling on
The Financial Times reported that AstraZeneca could resume
trials for its experimental coronavirus vaccine next week.
Investors await the European Central Bank's monetary policy
decision due later in the day. The ECB is unlikely to announce any
big changes to its policy, but indicate that it is prepared to
loosen policy if required.
Data from Statistics New Zealand showed that New Zealand
electronic retail card spending fell a seasonally adjusted 7.9
percent on month in August, following the 1.2 percent increase in
On a yearly basis, retail card transactions dipped 0.8 percent
after jumping 11.4 percent in the previous month.
The NZ currency climbed to a 2-day high of 0.6690 versus the
greenback, from yesterday's closing value of 0.6684. The next
possible resistance for the kiwi is seen around the 0.68 level.
The kiwi bounced off to 71.02 against the yen, after having
fallen to 70.83 at 5:05 pm ET. If the kiwi rises further, 72.00 is
possibly seen as its next resistance level.
The kiwi advanced to a 2-day high of 1.0876 versus the aussie
and held steady thereafter. At Wednesday's close, the pair was
In contrast, the kiwi eased to 1.7709 against the euro,
reversing from an early 2-day high of 1.7652 and held steady
thereafter. The pair had finished Wednesday's deals at 1.7658.
Looking ahead, the European Central Bank will announce interest
rate decision at 7:45 am ET. The ECB is expected to hold its main
refi rate at a record low zero percent and the deposit rate at
U.S. PPI for August, weekly jobless claims for the week ended
September 5 and wholesale inventories for July will be out in the
New York session.