NZ Dollar Appreciates On Trade Optimism

The New Zealand dollar strengthened against its major counterparts in the Asian session on Thursday, as investors awaited details of U.S-China trade deal signing ceremony to defuse dispute between the two sides.

On Tuesday, U.S. President Donald Trump said that there would be a signing ceremony for the first phase of the agreement between the U.S. and China.

Confirming the news, Beijing said that they were in close contact with Washington to ink the agreement.

The so-called deal suspended planned escalations and reduced tariffs on a portion of affected products.

Asian stock markets are trading mixed, with some markets remaining closed for the Christmas holidays.

The kiwi climbed to a 5-month high of 0.6651 against the greenback and a 2-day high of 1.6674 against the euro, from its early lows of 0.6640 and 1.6702, respectively. The next possible resistance for the kiwi is seen around 0.68 against the greenback and 1.64 against the euro.

Reversing from its early lows of 72.65 against the yen and 1.0427 against the aussie, the kiwi edged up to 72.86 and 1.0415, respectively. If the kiwi rises further, it may locate resistance around 75.00 against the yen and 1.03 versus the aussie.

Looking ahead, U.S. weekly jobless claims for the week ended December 21 are due in the New York session.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: NZ Dollar Appreciates On Trade Optimism

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