Trade Now

Capital at risk Advertisement
Name Symbol Market Type
Euro vs Australian Dollar FX:EURAUD Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.012595 -0.87% 1.44047 1.44039 1.44054 1.45335 1.4398 1.45275 0 20:55:01

Australian, NZ Dollars Weaken Amid Rising Risk Aversion

22/06/2022 5:10am

RTTF2


Euro vs AUD (FX:EURAUD)
Forex Chart


From Jun 2022 to Aug 2022

Click Here for more Euro vs AUD Charts.

The Australian and NZ dollars fell against their major counterparts in the Asian session on Wednesday, as risk sentiment dampened on fears about a recession in the wake of aggressive rate hikes by the Federal Reserve to tame inflation.

Chair Jerome Powell will testify on the semi-annual monetary policy report in the Senate later today.

Investors will closely watch Powell's comments for clues on the aggressiveness of the tightening cycle in the light of high inflation.

Markets are assigning a 90 percent probability of a 75 basis point rate hike next month, according to the CME FedWatch tool.

Oil prices fell as U.S. President Joe Biden is set to call on Congress to temporarily suspend the federal gasoline tax during the summer months.

The aussie weakened to a 5-day low of 0.6904 against the greenback and a 1-week low of 0.8953 against the loonie, reversing from its early highs of 0.6972 and 0.9008, respectively. The aussie is seen finding support around 0.67 against the greenback and 0.88 against the loonie.

The aussie pulled back from its prior highs of 1.5099 versus the euro and 95.29 against the yen, dropping to 1.5200 and 93.91, respectively. If the aussie falls further, it is likely to test support around 1.55 versus the euro and 90.00 against the yen.

The kiwi touched a 1-week low of 1.6789 against the euro and a 6-day low of 0.6253 against the greenback, down from its early highs of 1.6619 and 0.6335, respectively. The kiwi is likely to challenge support around 1.69 against the euro and 0.61 against the greenback.

The kiwi depreciated to a 5-day low of 1.1051 against the aussie and a 2-day low of 85.08 against the yen, after rising to 1.0995 and near a 2-week high of 86.57, respectively earlier in the session. The kiwi may locate support around 1.12 against the aussie and 83.00 against the yen.

Looking ahead, Canada inflation data for May will be featured in the New York session.

At 9:30 am ET, Federal Reserve Chair Jerome Powell will testify on the semi-annual monetary policy report before the Senate Banking Committee in Washington DC.

Eurozone flash consumer sentiment index for June will be released at 10:00 am ET.

1 Year Euro vs AUD Chart

1 Year Euro vs AUD Chart

1 Month Euro vs AUD Chart

1 Month Euro vs AUD Chart
ADVFN Advertorial
Your Recent History
FX
EURAUD
Euro vs AU..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20220812 20:10:07