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Weekly Roundup: Market risk aversion limits appeal of Australian dollar and New Zealand dollar

currency-newsWeekly Roundup: Market risk aversion limits appeal of Australian dollar and New Zealand dollar
Disappointing domestic data and an increased sense of jitters in the wider market kept both the Australian dollar and New Zealand dollar under a degree of pressure.

Although reports suggested that the US and China will meet to discuss trade on the side-lines of the upcoming G20 meeting any imminent resolution to the trade spat looks unlikely.

However, the New Zealand dollar found some support after September’s food price index showed a smaller contraction than anticipated.

This fuelled hopes that domestic inflationary pressure will start to pick up, limiting the case for a Reserve Bank of New Zealand (RBNZ) interest rate cut.

The Australian dollar may find a boost this week if Thursday’s raft of Australian labour market data proves encouraging.

Another solid uptick in employment numbers should offer AUD exchange rates a rallying point, improving confidence in the underlying health of the domestic economy.

A stronger third quarter New Zealand inflation rate could see NZD exchange rates pushing higher across the board, meanwhile.
 
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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