AUD. NZD and CAD pushing ever lower; GDT auction likely prompt for next NZD hit

AUD. NZD and CAD pushing ever lower; GDT auction likely prompt for next NZD hit

5 April 2016, 13:18
Vasilii Apostolidi
0
23

AUD/USD losses recorded to a touch under .7525 this morning, with the introduction of North American markets added fresh mileage to the USD move against the commodity based currencies.  From here we look to the .7475 lows posted on 24 March, from which we eventually generated a move up to .7721 highs seen last week.  Alongside this, USD/CAD has improved on the 1.3146 highs seen to print 1.3158, while NZD/USD has based out for .6760.  A clear theme for the day, we have to assume further weakness in all of the above, and in NZD, the next significant lows of note to do not kick in until the mid .6600’s, and with the GDT auction later today, where the WMP futures are pricing a near 9% fall, we have a potential prompt for the next leg lower.  USD/CAD resistance seen from 1.3215/16, but only modest losses seen in WTI today, with prices holding off $35.0 for now.

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