Monday, September 28, 2015

AUD/NZD clinging to 1.1000 ahead of a data-heavy week

FXStreet (Mumbai) - A negative risk sentiment across the Asia at the start of a fresh week, kept both Antipodean currencies on the back foot, although the Aussie managed to keep the upper edge versus its OZ neighbour.

AUD/NZD bounces-off 1.0998

Currently, the AUD/NZD pair trades 0.12% higher at 1.1018, fighting hard to sustain above 1.10 barrier in last hours. The Australian dollar remains better bid against its New Zealand rival amid an absolute data-empty Asian calendar, with all eyes turning towards the NY session awaiting Fed officials’ speeches and the key PCE inflation data.

Meanwhile, the Kiwi shrugged off the comments from RBNZ Governor Wheeler delivered in the central bank’s Annual report published in the early Asian hours.

In the day ahead, we have speeches from Fed policymakers Tarullo, Dudley and Evans, which may provide fresh hints on the timing of the Fed rate-hike and on overall US economic growth prospects.

Whilst, the upcoming China manufacturing PMIs later this week is also expected to have significant impact on the Antipodeans, especially after the recent Caixin manufacturing PMI report disappointed markets big time.

AUD/NZD Levels to watch

The pair has an immediate resistance at 1.1032 (Today’s High) levels, above which gains could be extended to 1.1047 (Sept 27 High) levels. On the flip side, support is seen at 1.0998 (Today’s Low) levels from here it to 1.0974 (Sept 25 Low).
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