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Weekly roundup: AUD, NZD lifted by USD weakness, Australian Dollar strengthened by retail figures

currency-newsWeekly roundup: AUD, NZD lifted by USD weakness, Australian Dollar strengthened by retail figures
The Australian dollar and New Zealand dollar were both supported last week as investors flocked to the currencies in the face of US dollar weakness.

Both AUD and NZD advanced last week, with the Australian dollar finding particular support on Thursday as Australia’s latest retail sales figures saw sales growth rocket from 0.5% to 1.2% in November, helping to allay fears over consumer spending in the second half of 2017.

Meanwhile, the New Zealand Dollar found itself a little directionless again last week due to a lull in notable domestic data, with the currency’s gains largely being derived from weakness in the US dollar and an uptick in commodity prices.

Looking ahead, the New Zealand dollar may strengthen in the first half of this week’s session if prices continue ticking higher at the latest global dairy auction, although a possible dip in the domestic manufacturing PMI could undermine any gains later in the week.

Meanwhile, the focus for AUD investors this week will be on the publication of Australia’s latest labour report on Thursday, with the ‘Aussie’ potentially falling if employment slows as forecast in December.
 
 
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Currencies Direct is one of Europe's leading non-bank providers of currency exchange and international payment services. Since we were formed in 1996, we've maintained our focus on providing innovative foreign exchange and international currency transfer services to corporations of all sizes, online sellers and private individuals. We have also expanded our services to provide dynamic and pioneering "business to business" solutions to help companies, tier 2/3 banks and other non-bank financial institutions to process their international payments. Our headquarters are in the City of London (United Kingdom) and we have operations in continental Europe, Africa, Asia, and the United States. Currencies Direct is jointly owned by private equity firms Palamon Capital Partners and Corsair Capital.

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