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EURNZD Euro vs New Zealand Dollar

1.80963
0.005 (0.28%)
Last Updated: 13:30:09
Delayed by 15 minutes
Name Symbol Market Type
Euro vs New Zealand Dollar FX:EURNZD Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.005 0.28% 1.80963 1.80952 1.80973 1.8103 1.8052 1.80499 0 13:30:09

Commodity Currencies Weaken Amid Risk Aversion After China Data

14/01/2019 3:15am

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Euro vs NZD (FX:EURNZD)
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From Mar 2019 to Mar 2024

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The commodity currencies such as Australian, New Zealand and Canadian dollars drifted lower against their major opponents in the Asian session on Monday, as China's exports and imports fell unexpectedly in December, escalating fears that Beijing's trade spat with the U.S. started to bite in the world's second largest economy.

China's exports unexpectedly fell 4.4 percent from a year earlier in the month — the biggest monthly drop in two years, while imports also fell 7.6 percent, marking the biggest decline since July 2016.

Asian stocks fell broadly on concerns about a sharp economic slowdown in the world's second-largest economy.

Investors also looked ahead to U.S bank earnings this week and Tuesday's key Commons vote on Brexit for directional cues.

Oil prices fell over 1 percent as weak China data suggested slowdown in the world's biggest trading nation.

The aussie declined to 4-day lows of 0.7180 against the greenback and 77.59 against the yen, off its early highs of 0.7218 and 78.26, respectively. The aussie is likely to test support around 0.70 against the greenback and 76.00 against the yen, if it falls further.

Having climbed to near a 4-week high of 1.5879 against the euro at 5:00 pm ET, the aussie reversed direction and fell to 1.5983. Continuation of the aussie's downtrend may take it to a support around the 1.62 level.

The aussie pared gains to 0.9536 against the loonie and 1.0546 against the kiwi, from its previous highs of 0.9568 and 1.0566, respectively. The aussie is likely to challenge support around 0.94 against the loonie and 1.04 against the kiwi.

The kiwi dropped to 0.6800 against the greenback and 73.47 against the yen, reversing from its early highs of 0.6832 and 74.13, respectively. Next key support for the kiwi is possibly seen around 0.67 against the greenback and 72.00 against the yen.

After rising to 1.6771 against the euro at 5:00 pm ET, the kiwi changed its course and reached as low as 1.6879. The kiwi is poised to find support around the 1.70 area.

The loonie depreciated to a 6-day low of 1.3291 against the greenback and a weekly low of 81.33 against the yen, from its highs of 1.3254 and 81.86,respectively hit early in the session. On the downside, 1.34 and 78.5 are likely seen as the next support levels for the loonie against the greenback and the yen, respectively.

The loonie declined to 1.5249 against the euro, following an advance to 1.5194 at 5:00 pm ET. The next possible support for the loonie is seen around the 1.54 level.

The Japanese yen appreciated to weekly highs of 123.96 against the euro, 109.88 against the franc and 81.33 against the loonie, coming off from its early lows of 124.43, 110.31 and 81.86, respectively. The yen is likely to find resistance around 122.00 against the euro, 107.00 against the franc and 80.00 against the loonie.

The yen rose to a 4-day high of 108.04 against the greenback, from a low of 108.55 hit at 5:00 pm ET. The yen is seen finding resistance around the 106.00 region.

The Japanese currency reversed from an early near a 2-week low of 139.57 against the pound, rising to 138.75. If the yen rises further, 136.00 is possibly seen as its next resistance level.

Looking ahead, Eurozone industrial production for November is set for release in the European session.

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