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Weekly roundup: Australian and New Zealand dollars plummet as trade war fears prompt sharp fall in risk appetite

currency-newsWeekly roundup: Australian and New Zealand dollars plummet as trade war fears prompt sharp fall in risk appetite
The Australian dollar and New Zealand dollar were both under fire during last week’s session, as risk adverse traders shunned the two commodity-correlated currencies.

While AUD and NZD were able to hold their own at the start of the week thanks to some impressive Chinese production figures, both faced heavy losses in the second half of the week as concerns over the possibility of the Trump administration enacting further trade tariffs prompted a sharp fall in market risk appetite.

Looking ahead the focus for AUD investors this week is likely to be on Australia’s latest labour report, with expectations of some lacklustre wage figures likely to leave the ‘Aussie’ weakened.

Meanwhile the Reserve Bank of New Zealand (RBNZ) will also hold its latest rate decision this week, with the ‘Kiwi’ likely to struggle if the bank maintains its neutral outlook.
 
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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