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Weekly roundup: Australian and New Zealand dollar rocked by trade concerns

currency-newsWeekly roundup: Australian and New Zealand dollar rocked by trade concerns
The Australian dollar and New Zealand dollar were both hit by volatility last week as high impact US data and rising trade tensions weighed on risk appetite.

Both AUD and NZD were rocked by fluctuating market risk appetite last week as investors focused on the Federal Reserve’s rate decision as well as on the possible consequences of Trump pursuing a more protectionist trade agenda.

In terms of domestic data the Australian Dollar also suffered on Thursday with the release of Australia’s latest labour report failing to list the ‘Aussie’ due to concerns over weak wage growth.

Meanwhile the Reserve Bank of New Zealand (RBNZ) also held its latest policy meeting last week, with the Kiwi showing little movement after the bank unsurprisingly voted to leave rates on hold again this month.

Looking ahead it’s set to be quiet week in terms of data for both the Australian and New Zealand dollars this week, with movement again likely to be dictated by market risk sentiment, amidst growing concerns of a US-led trade war.
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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