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Weekly Roundup: Australian, New Zealand dollar bolstered by US-China Trade Optimism

currency-newsWeekly Roundup: Australian, New Zealand dollar bolstered by US-China Trade Optimism
The Australian dollar and New Zealand dollar both trended higher last week, bolstered by a rise in risk sentiment following on hopes the US and China are making strides towards resolving their trade dispute.

AUD and NZD exchange rates strengthened last week, as a weakened US dollar and signs that the US and China were making some headway towards a trade deal saw market risk appetite climb throughout the session.

Individually the Australian dollar proved to be the stronger performer however as it was supported by a surprise rise in domestic retail sales, while a lull in New Zealand data limited the ‘kiwi’s gains.

This week may see the ‘Aussie’ struggle however with some weak Chinese data at the start of the session as a possible slide in consumer confidence both potentially dragging on AUD.

Meanwhile, the New Zealand dollar may find some support from this week, if the recent rally in prices continues at the latest global dairy auction.
 
Philip McHugh

Philip McHugh

Joining the corporate trading desk in 2007, Phil now over sees all of Currencies Direct’s corporate dealing activity. Having gained experience working with hundreds of businesses to optimise international payments processes and execute comprehensive risk management strategies, Phil currently works with a portfolio of corporate clients whilst managing Currencies Direct’s overall market exposure

Phil has FCA approval and has completed the Certificate in International Treasury Management (CertiTM)

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