EURNZD Euro vs New Zealand Dollar

The Antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the Asian session on Wednesday amid risk appetite, supported by a rebound in commodity prices and bargain hunting. Some traders seemed reluctant to make significant moves amid uncertainty about the near-term outlook for the markets after recent volatility.

The NZ dollar started rising earlier against its major rivals after the jobs data.

Data from Statistics New Zealand showed that the unemployment rate in New Zealand came in at a seasonally adjusted 4.0 percent in the fourth quarter of 2023. That was below expectations for 4.3 percent and up from 3.9 percent in the previous three months.

Employment was up 0.4 percent on quarter, beating forecasts for a gain of 0.3 percent after slipping 0.2 percent in the three months prior.

Crude oil prices climbed higher, extending gains from the previous session after the Energy Information Administration's said oil inventories may drop by 0.8 million barrels per day in the current quarter. West Texas Intermediate Crude oil futures for March ended higher by $0.53 or 0.73 percent at $73.31 a barrel.

In the Asian trading today, the Australian dollar rose to a 5-day high of 1.6458 against the euro, from yesterday's closing value of 1.6478. The aussie may test resistance near the 1.63 region.

Against the U.S. and the Canadian dollars, the aussie advanced to 5-day highs of 0.6541 and 0.8815 from Tuesday's closing quotes of 0.6528 and 0.8806, respectively. If the aussie extends its uptrend, it is likely to find resistance around 0.68 against the greenback and 0.89 against the loonie.

The aussie edged up to 96.70 against the yen, from yesterday's closing value of 96.50. On the upside, 98.00 is seen as the next resistance level for the aussie.

The NZ dollar rose to an 8-day high of 1.7610 against the euro, from Tuesday's closing value of 1.7637. The next possible upside target for the kiwi is seen around the 1.74 region.

Against the U.S. dollar and the yen, the kiwi advanced to 5-day highs of 0.6112 and 90.38 from yesterday's closing quotes of 0.6099 and 90.16, respectively. If the kiwi extends its uptrend, it is likely to find resistance around 0.63 against the greenback and 91.00 against the yen.

The kiwi edged up to 1.0692 against the Australian dollar, from yesterday's closing value of 1.0704. The kiwi may test resistance around the 1.06 region.

Meanwhile, the safe-haven currency or the U.S. dollar fell against its major rivals on risk appetite.

The U.S. dollar fell to 2-day lows of 1.0767 against the euro and 1.2613 against the pound, from yesterday's closing quotes of 1.0757 and 1.2603, respectively. If the greenback extends its downtrend, it is likely to find support around 1.09 against the euro and 1.27 against the pound.

The greenback edged down to 0.8691 against the Swiss franc, from an early high of 0.8699. On the downside, 0.85 is seen as the next support level for the greenback.

Against the yen and the Canadian dollar, the greenback slipped to a 5-day low of 147.72 and a 2-day low of 1.3474 from Tuesday's closing quotes of 147.82 and 1.3490, respectively. The greenback is likely to find its support level around 144.00 against the yen and 1.33 against the loonie.

Looking ahead, Germany's industrial production for December and U.K. Halifax house price data for January are due to be released in the pre-European session at 2:00 am ET.

In the New York session, U.S. MBA mortgage approvals data, Canada and U.S. trade data for December and U.S. EIA crude oil data are slated for release.

At 11:00 am ET, Federal Reserve Board Governor Adriana Kugler will deliver a speech on "The Outlook for the Economy and Monetary Policy" before the Brookings Institution, in Washington, U.S.

Half-an-hour later, Federal Reserve Bank of Boston President Susan Collins will give perspectives on the economy before the Boston Economic Club, in Boston, U.S.

At 12:30 pm ET, Federal Reserve Bank of Richmond President Thomas Barkin will participate in a conversation before the Economic Club of Washington D.C., U.S.

At 2:00 pm ET, Federal Reserve Board Governor Michelle Bowman will speak on "Supporting Entrepreneurship and Small Businesses" before virtual "Uneven Outcomes in the Labor Market" conference hosted by the Federal Reserve Board of Governors and the Federal Reserve Banks of Atlanta, Boston, Cleveland, Philadelphia, San Francisco, and St. Louis, in Washington D.C., U.S.

Euro vs NZD (FX:EURNZD)
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Von Mär 2024 bis Apr 2024

Euro vs NZD (FX:EURNZD)
Forex Chart
Von Apr 2023 bis Apr 2024