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Day: May 15, 2017
May 152017
New Zealand Dollar Joins Rally of Commodity Currencies
Commodity currencies were rising today thanks to the rally of crude oil prices, and the New Zealand dollar was not an exception. But the kiwi had also its own reasons for posting gains. Unlike the Australian currency, the New Zealand dollar was able to get help from domestic economic reports. Retail sales rose 1.5% in the March quarter from the previous three months (seasonally adjusted), exceeding the medium forecast of 1.1.%. […]
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May 152017
Rally of Crude Oil Helps Aussie Mitigate Negative Fundemantals
Fundamentals were largely adverse to the Australian dollar, but that did not prevent the Aussie from rallying today. Analysts explained such behavior by the rise of crude oil prices that bolstered currencies linked to commodities, the Aussie being one of such currencies. The start of the trading week did not look good for the Australian currency, not the least due to the risk aversion caused by yet another nuclear missile test by North Korea. […]
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May 152017
Rally of Crude Oil Helps Aussie Mitigate Negative Fundemantals
Fundamentals were largely adverse to the Australian dollar, but that did not prevent the Aussie from rallying today. Analysts explained such behavior by the rise of crude oil prices that bolstered currencies linked to commodities, the Aussie being one of such currencies. The start of the trading week did not look good for the Australian currency, not the least due to the risk aversion caused by yet another nuclear missile test by North Korea. […]
Read more