WELLINGTON/SYDNEY, Nov 8(Reuters) - The high-flying
Australian and New Zealand dollars were a hint softer on Monday
as they waited for new impetus to challenge the multi-year highs
set last week.
* The Australian dollar holds near 28-year highs at $1.0150 , after rising as far as $1.0182, and is on course to test $1.0236, the 161.8 percent Fibonacci projection of its range this year. Resistance seen initially at $1.018.
* The New Zealand dollar, which gained 3.6 percent last week, at $0.7936, after surging to a 31-month high of $0.7976 last week. Support at $0.7880 with $0.7980 and then $0.8000 the lines of resistance.
* The U.S. dollar soared on Friday after data showed U.S. employers added 151,000 jobs in October, blowing past expectations of a 60,000 rise and marking the fastest pace of hiring since April. For details, see
* The dollar may be close to a bottom against the euro and the yen, with any signs that the U.S. economy is picking up speed may see investors cut their short dollar positions.
* Antipodean rallies are seen as having the legs to run further yet as near-zero U.S. rates and super-loose U.S. monetary policy meant the high-yielding duo would continue to draw investors looking for returns.
* U.S. dollar weakness favours carry trades in high yield assets, with the strength of commodity prices also adding to the strength.
* At 4.75 percent, Australian rates are the highest in the developed world. New Zealand rates stand at 3 percent, still steep compared to the average 0.5 percent among rich economies. The tightening cycles of both economies still have more to run, albeit gradually with pauses.
* The Australian dollar steady at NZ$1.2785 as it settles after its decline from a six-month high hit late last month.
* Australia's key event this week is third quarter jobs data on Thursday, with mid-year economic and fiscal update, and confidence surveys. New Zealand has partial retail and housing data, along with Reserve Bank of NZ's six-monthly financial stability report.
* A raft of Chinese data including trade, inflation, retail and industrial production also likely to be influential.
* NZ Treasury data shows the government fiscal deficit worse than expected in the three months to Sept. 30 because of a lower tax take and the costs of the major earthquake which hit Christchurch on Sept. 4. See
* Australia three year futures down 0.05 points to
94.86 and 10
year futures down 0.035 points to 94.695.
* NZ debt bank bills flat, but government bonds softer with yields up to 2 basis points higher.
((Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 471 4234)) Keywords: MARKETS AUSTRALIA NEWZEALAND FOREX/BONDS (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* The Australian dollar holds near 28-year highs at $1.0150 , after rising as far as $1.0182, and is on course to test $1.0236, the 161.8 percent Fibonacci projection of its range this year. Resistance seen initially at $1.018.
* The New Zealand dollar, which gained 3.6 percent last week, at $0.7936, after surging to a 31-month high of $0.7976 last week. Support at $0.7880 with $0.7980 and then $0.8000 the lines of resistance.
* The U.S. dollar soared on Friday after data showed U.S. employers added 151,000 jobs in October, blowing past expectations of a 60,000 rise and marking the fastest pace of hiring since April. For details, see
* The dollar may be close to a bottom against the euro and the yen, with any signs that the U.S. economy is picking up speed may see investors cut their short dollar positions.
* Antipodean rallies are seen as having the legs to run further yet as near-zero U.S. rates and super-loose U.S. monetary policy meant the high-yielding duo would continue to draw investors looking for returns.
* U.S. dollar weakness favours carry trades in high yield assets, with the strength of commodity prices also adding to the strength.
* At 4.75 percent, Australian rates are the highest in the developed world. New Zealand rates stand at 3 percent, still steep compared to the average 0.5 percent among rich economies. The tightening cycles of both economies still have more to run, albeit gradually with pauses.
* The Australian dollar steady at NZ$1.2785 as it settles after its decline from a six-month high hit late last month.
* Australia's key event this week is third quarter jobs data on Thursday, with mid-year economic and fiscal update, and confidence surveys. New Zealand has partial retail and housing data, along with Reserve Bank of NZ's six-monthly financial stability report.
* A raft of Chinese data including trade, inflation, retail and industrial production also likely to be influential.
* NZ Treasury data shows the government fiscal deficit worse than expected in the three months to Sept. 30 because of a lower tax take and the costs of the major earthquake which hit Christchurch on Sept. 4. See
* Australia three year futures down 0.05 points to
94.86 and 10
year futures down 0.035 points to 94.695.
* NZ debt bank bills flat, but government bonds softer with yields up to 2 basis points higher.
((Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 471 4234)) Keywords: MARKETS AUSTRALIA NEWZEALAND FOREX/BONDS (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.