16 Feb 2015
AUD/NZD drops to record low
FXStreet (Córdoba) - AUD/NZD broke below 1.0365 and fell to 1.0328, reaching a fresh record low. The pair then rebounded and it was trading slightly above 1.0550, 60 pips below Friday’s closing price.
The kiwi is among the best performers in the currency market on monday, boosted by strong economic data from New Zealand after an increase in retail sales of 1.70% during the fourth quarter, above expectations. The pair remains weak and moving with a bearish bias in the short term from a technical perspective.
Volume could decrease significantly over the next hours amid a US holiday. On Tuesday, Reserve Bank of Australia’s minutes will be published during the Asian session while later, a new auction of dairy products will take place, with dairy prices likely to affect the kiwi.
The kiwi is among the best performers in the currency market on monday, boosted by strong economic data from New Zealand after an increase in retail sales of 1.70% during the fourth quarter, above expectations. The pair remains weak and moving with a bearish bias in the short term from a technical perspective.
Volume could decrease significantly over the next hours amid a US holiday. On Tuesday, Reserve Bank of Australia’s minutes will be published during the Asian session while later, a new auction of dairy products will take place, with dairy prices likely to affect the kiwi.