NZD Gains for 4th Day Against U.S. Dollar
The New Zealand dollar rose for the fourth straight day against its U.S. counterpart and advanced for the second day versus the Australian dollar today, assisted by the signs of the global recession’s easing.
The Australian dollar also continued to rise against the greenback and the yen as the commodity prices rose considerably this week. The Asian region demonstrates a less significant drop in economy than the market strategists first believed and that helps the developed economies of Australia and New Zealand with the inflow of funds. The immigration to the New Zealand also rose to the new 5-year high level.
Both gold and silver demonstrated a serious uptrend during the last three days and now the «Aussie» is already trading above its important resistance level against the U.S. dollar, while the «kiwi» slowly approaches such resistance levels. Analyst say that if you are bullish on the commodities you have to be bullish on both AUD and NZD.
NZD/USD rose from 0.6039 to 0.6074 as of 8:06 GMT today. NZD/JPY climbed up from 57.24 to 57.47. AUD/USD rose from 0.7734 to 0.7746, while AUD/JPY remained virtually unchanged near 73.30 level. AUD/NZD declined for a second day today — from 1.2788 to 1.2746.
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Earlier News About the New Zealand Dollar:
- New Zealand Interest Rate Reaches Record Low at 2.5% (2009-04-30)
- New Zealand Dollars Weakens as Pig Flu Spreads (2009-04-28)
- New Zealand Dollar Rises On Credit Improvement Speculations (2009-04-23)
- New Zealand Dollar Falls on Growing Recession Concerns (2009-04-17)
- U.S. Economy Reports Push Down the Australian and NZ Dollar (2009-04-15)