Aussie at 1-month high vs greenback; Kiwi slips but losses limited

Aussie at 1-month high vs greenback; Kiwi slips but losses limited

28 April 2015, 09:24
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On Tuesday the Australian dollar reached one-month peak against the greenback, following comments by Reserve Bank of Australia Governor Glenn Stevens. The New Zealand dollar declined against its US peer, but losses were limited as the greenback remained vulnerable after recent soft U.S. data.

AUD/USD hit 0.7882 during late Asian trade, the pair's highest since March 26; the pair subsequently consolidated at 0.7875, rising 0.23%. The pair was likely to find support at 0.7789, Monday's low and resistance at 0.7940, the high of March 24.

Earlier, RBA Governor Glenn Stevens said that he had "no comments to offer on monetary policy ahead of next week's meeting of the Reserve Bank Board."

He signaled however that the RBA is now viewing the risks to the economy that stem from low interest rates.

The Aussie was also higher against the euro, with EUR/AUD sliding 0.35% to 1.3812.

NZD/USD hit 0.7620 during late Asian trade, the session low; the pair subsequently consolidated at 0.7628, edging down 0.24%. The pair was likely to find support at 0.7580, Monday's low and resistance at 0.7714, the high of April 21. 

The kiwi was also lower against the Aussie, with AUD/NZD gaining 0.45% to 1.0322.

The US Commerce Department reported Friday that orders for durable goods, excluding aircraft, fell 0.5% in March, after a downwardly revised 2.2% drop in February. The news put the greenback under pressure.

The data came after recent weak reports on home sales, retail sales and industrial production, adding to signs of a slowdown in economic growth since the start of the year.

The U.S. is expected to issue private sector data on consumer confidence.

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