THE New Zealand dollar is heading for a 2.1 per cent weekly gain against the greenback as investor concerns about Fonterra's food scare dissipate and as Chinese figures reinvigorate optimism about Australasia's biggest trading partner.
The kiwi eased to 79.93 US cents at 5pm in Wellington from 80.17 cents at 8am, though up from 79.60 cents on Thursday.
It started the week at 78.31 cents, slumping to a month-low 76.99 cents at the height of the Fonterra scare.
The trade-weighted index advanced to 75.01 at 5pm from 74.90 on Thursday, and is heading for a 0.2 per cent decline, starting the week at 75.14.
Investors shrugged off concerns about New Zealand's dairy exports as trading partners refrained from imposing blanket import bans and as Fonterra managed to get the potential food taint under control within days.
The NZ dollar got a further boost as improving trade figures in China fuelled demand for the Australian dollar, with the trans-Tasman currencies typically moving in unison.
"Fonterra recovered pretty quickly - the action was all on Monday," said Alex Hill, head of dealing at HiFX in Auckland.
"The kiwi's at the top of the range really - it still looks like a relief rally to some degree."
Mr Hill said the kiwi dollar was also being helped by its Australian counterpart, which has rebounded after the Reserve Bank of Australia cut rates as expected on Tuesday, without keeping the door open for more reductions.
"The Aussie is the most oversold of the currencies out there - the whole market was short and it (the RBA) didn't surprise," he said.
The NZ currency was unchanged at 87.68 Australian cents at 5pm on Friday from the same time Thursday, and inched up to 77.06 yen from 76.92 yen. It was little changed at 59.72 euro cents from 59.66 cents.
Anda sedang membaca artikel tentang
NZ dollar heads for 2.1% weekly gain
Dengan url
http://suarabisikan.blogspot.com/2013/08/nz-dollar-heads-for-21-weekly-gain.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
NZ dollar heads for 2.1% weekly gain
namun jangan lupa untuk meletakkan link
NZ dollar heads for 2.1% weekly gain
sebagai sumbernya
0 komentar:
Posting Komentar