Home »Money and Banking » World » Aussie, kiwi steady
The Australian and New Zealand dollars were on track to end the week with solid gains on Friday, buoyed by another promise of policy patience from the Federal Reserve and news of a new round of talks on the Sino-US trade dispute.

The Aussie dollar was a fraction firmer at $0.7191, having touched a top of $0.7205 overnight. That left it 1.2 percent higher for the week and a world away from last week's "flash crash" low of $0.6715. The kiwi dollar was steady at $0.6792 after it stopped short of resistance around $0.6817, but was still up 0.7 percent for the week.

The Aussie got a domestic lift from data showing retail sales just pipped forecasts with a rise of 0.4 percent in November, suggesting consumer spending picked up somewhat after a very soft third quarter. Ten-year Australian government bond futures eased 1 tick on Friday to 97.6700, leaving them down 9.5 ticks for the week. The three-year contract dipped 1.5 ticks to 98.185, but was off just a fraction for the week.

New Zealand government bond yields nudged up around 2 ticks across the curve on Friday. "The risk to our Q4 consumption input into economic growth is now skewed a little to the upside," said Robert Thompson, macro rates strategist at RBC Capital Markets.

Copyright Reuters, 2019


the author

Top
Close
Close