Australian, NZ Dollars Drop Amid Didi Delisting, Soft China Data
03 Dezember 2021 - 3:52AM
RTTF2
The Australian and NZ dollars fell against their major
counterparts in the Asian session on Friday, as ride-hailing giant
Didi Global's plan to delist from the New York stock exchange and a
slowdown in Chinese service sector activity dampened risk
sentiment.
Didi said that it will start delisting from the NYSE soon and
start preparations for listing in Hong Kong.
The firm was facing a ban to register new users and an
investigation into its data security as Beijing intensifies
crackdown on the internet sector.
The rapid spread of the new Omicron coronavirus variant across
the world fueled worries about the global economic recovery from
the pandemic.
The U.S. reported eight cases of the Omicron variant, after
several countries including Norway, Ireland, South Korea and Brazil
detected infections.
The latest survey from Caixin showed that China service sector
activity slowed to 52.1 in November from 53.8 in October. The
expected score was 52.6.
The aussie dropped to a 3-day low of 0.7063 against the
greenback, more than 2-month low of 79.85 against the yen and a
1-1/2-year low of 0.9054 against the loonie, down from its early
highs of 0.7095, 80.33 and 0.9089, respectively. The aussie is
likely to target support around 0.68 against the greenback, 78.00
against the yen and 0.88 against the loonie.
The aussie touched 1.5998 against the euro, falling from a high
of 1.5909 seen at 5:45 pm ET. If the aussie drops further, 1.62 is
seen as its next support level.
The kiwi slipped to 76.71 against the yen, 1.6656 against the
euro and 1.0420 against the aussie, after rising to 77.19, 1.6561
and 1.0395, respectively in early deals. The next possible support
for the kiwi is seen around 75.00 against the yen, 1.68 against the
euro and 1.06 against the aussie.
The kiwi was down against the greenback at a 3-day low of
0.6780, reversing from a high of 0.6819 hit at 6 pm ET. On the
downside, 0.66 is possibly seen as its next support level.
Looking ahead, PMI reports from major European economies and
Eurozone retail sales for October are due in the European
session.
U.S. and Canadian jobs data and ISM non-manufacturing PMI, all
for November, as well as U.S. factory orders for October will be
released in the New York session.
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