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Day: May 25, 2016
May 252016
Aussie Follows Kiwi in Gains
The Australian dollar followed its New Zealand counterpart in a rally during the current trading session even though fundamentals were not as supportive for the Aussie. The Australian Bureau of Statistics reported: The seasonally adjusted estimate for total construction work done fell 2.6% to $47,928.8m in the March quarter. The drop was almost two times the one forecast by analysts. Yet the Aussie did not buckle under the pressure from the poor data […]
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May 252016
NZ Dollar Higher with Help from Domestic Data & Crude Oil
The New Zealand dollar rose today thanks to the positive domestic data and the rebound of prices for crude oil. The New Zealand trade surplus expanded to NZ$292 million in April from the March’s revised level of NZ$189 million. It was a total surprise to economists who were counting on a big drop to NZ$40 million. Meanwhile, crude oil rallied more than 1%, bolstering commodity-related currencies. NZD/USD rose from 0.6736 to 0.6761 as of 18:12 […]
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