AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.06 Increased By ▲ 0.02 (0.02%)
BOP 6.62 Decreased By ▼ -0.05 (-0.75%)
CNERGY 4.53 Increased By ▲ 0.02 (0.44%)
DCL 8.58 Increased By ▲ 0.03 (0.35%)
DFML 41.72 Increased By ▲ 0.28 (0.68%)
DGKC 87.40 Increased By ▲ 0.55 (0.63%)
FCCL 32.60 Increased By ▲ 0.32 (0.99%)
FFBL 64.87 Increased By ▲ 0.07 (0.11%)
FFL 10.22 Decreased By ▼ -0.03 (-0.29%)
HUBC 109.35 Decreased By ▼ -0.22 (-0.2%)
HUMNL 14.74 Increased By ▲ 0.06 (0.41%)
KEL 5.13 Increased By ▲ 0.08 (1.58%)
KOSM 7.55 Increased By ▲ 0.09 (1.21%)
MLCF 41.70 Increased By ▲ 0.32 (0.77%)
NBP 59.60 Decreased By ▼ -0.81 (-1.34%)
OGDC 193.00 Increased By ▲ 2.90 (1.53%)
PAEL 28.16 Increased By ▲ 0.33 (1.19%)
PIBTL 7.81 Decreased By ▼ -0.02 (-0.26%)
PPL 151.75 Increased By ▲ 1.69 (1.13%)
PRL 27.15 Increased By ▲ 0.27 (1%)
PTC 15.96 Decreased By ▼ -0.11 (-0.68%)
SEARL 86.02 Increased By ▲ 0.02 (0.02%)
TELE 7.75 Increased By ▲ 0.04 (0.52%)
TOMCL 35.55 Increased By ▲ 0.14 (0.4%)
TPLP 8.20 Increased By ▲ 0.08 (0.99%)
TREET 16.55 Increased By ▲ 0.14 (0.85%)
TRG 53.30 Increased By ▲ 0.01 (0.02%)
UNITY 26.30 Increased By ▲ 0.14 (0.54%)
WTL 1.28 Increased By ▲ 0.02 (1.59%)
BR100 9,989 Increased By 105.1 (1.06%)
BR30 31,165 Increased By 565.3 (1.85%)
KSE100 94,200 Increased By 844.9 (0.91%)
KSE30 29,189 Increased By 257.6 (0.89%)
Print Print 2019-11-07

Aussie, kiwi ease

The Australian and New Zealand dollars eased on Wednesday as their US counterpart got a lift from rising Treasury yields, while the kiwi took an extra knock from a mixed set of jobs data.
Published November 7, 2019

The Australian and New Zealand dollars eased on Wednesday as their US counterpart got a lift from rising Treasury yields, while the kiwi took an extra knock from a mixed set of jobs data.

The Aussie was holding at $0.6892, having slipped off a $0.6928 top overnight. The repeated failure to break resistance around $0.6930, now risks support at $0.6877.

The kiwi faded to $0.6374 and away from a three-month peak of $0.6466 hit at the start of the week. Major support lies around $0.6335.

The pullback was mainly a function of a firmer US dollar as optimism on Sino-US trade talks and a surprisingly strong survey of the US service sector pushed up Treasury yields.

As a result, Australian 10-year bond yields are now 60 basis points below those on Treasuries, compared with 75 basis points this time last month. Yet the Aussie also benefited from signs of progress in the trade talks, making gains on the euro and touching a 14-week high on the safe-haven Japanese yen. In the bond market, Australian futures eased in line with Treasuries and the three-year contract slipped 2 ticks to 99.125. The 10-year contract fell 4.5 ticks to 98.7500.

Copyright Reuters, 2019

Comments

Comments are closed.