The Australian and New Zealand Dollars have made slight gains against the US Dollar and other currencies as the markets await the release of the latest US jobs data which could add support to the case for the Federal Reserve to taper its stimulus programme.
Yesterday the Australian Dollar strengthened against the majority of its peers after global stocks jumped after the Bank of England and European Central Bank said that they would be continuing with their looser monetary policies. The ‘Aussie’ edged up 0.4% from its lowest level since November 2008 against the ‘Kiwi’.
“The Aussie managed to emerge a little stronger after the ECB and Bank of England both indicated that they were inclined to loosen policy as needed,” said Sean Callow, a senior currency strategist at Westpac Banking Corp in Sydney. The U.S. payrolls data is “always a lottery as far as the number that hits the screens. The kiwi has still been a much stronger performer than the Aussie in recent weeks, but on the day it’ll just watch the global mood.”
The market’s attention is focused on the US jobs numbers data with 165,000 jobs expected to have added in June. A stronger than expected figure is likely to send the ‘Aussie’ weaker.
“No one wants to be running too much risk into the payrolls tonight,” said Michael Turner, strategist at RBC Capital Markets. He said a stronger outcome would boost the greenback and likely send the Australian Dollar below US90c.
Current Exchange Australian Dollar (AUD) Rates
The Australian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9164
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.7119
The Australian Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6118
The Australian Dollar/ New Zealand Dollar Exchange Rate is currently in the region of: 1.1703
Current New Zealand Dollar (NZD) Exchange Rates
The New Zealand Dollar/US Dollar Exchange Rate is currently in the region of: 0.7830
The New Zealand Dollar /Euro Exchange Rate is currently in the region of: 0.6082
The New Zealand Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5227
The New Zealand Dollar /Australian Dollar Exchange Rate is currently in the region of: 0.8544
(Correct as of 10:40 am GMT)
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