The Australian and New Zealand dollars climbed against their major counterparts in Asian morning session on Monday amid risk appetite following last week's upbeat U.S. economic data, indicating an economic recovery.
Thomson Reuters and the University of Michigan said the preliminary reading on their consumer sentiment index for May came in at 83.7 compared to the final April reading of 76.4. The Conference Board said its leading economic index rose a better-than-expected 0.6 percent in April following a revised 0.2 percent decrease in March.
New Zealand's Finance Minister Bill English indicated on Sunday that the Reserve Bank of New Zealand may hike interest rates in late this year or next year. While speaking to a TV channel, English told that booming home prices put pressure on the central bank to raise rates at some stage.
New Zealand's services sector activity expanded at the highest rate since October 2012. The latest BNZ-Business New Zealand Performance of Services Index rose to 56.1 in April from prior month's reading of 55.6.
The aussie edged up to 0.9769 against the greenback, up from Friday's more than 11-month low of 0.9710. On the upside, the aussie is poised to find resistance around 1.02 level.
The aussie recovered from near 3-week low of 99.48 against the yen and is presently worth 100.31. The pair ended last week's deals at 100.43.
The aussie advanced to 1.3137 against the euro, adding 0.37 percent from last week's close of 1.3186. If the aussie extends gain, next upside target level lies around 1.31.
The aussie hit a 4-day high of 1.0044 against the Canadian dollar, reversing from a 7-month low of 0.9951 reached on Friday. The next resistance level for the aussie-loonie pair sits around 1.01.
The New Zealand dollar strengthened to 0.8107 against the U.S. dollar, up from Friday's close of 0.8063. The next upside target level for the kiwi-greenback pair is seen at 0.82.
After declining to near a 3-week low of 82.51 against the yen, the kiwi bounced back with pair trading at 83.29. Further upside momentum for the kiwi-yen pair may let it pierce 0.84 level.
The kiwi that ended last week's trading at 1.5903 against the euro reached as high as 1.5824. On the upside, the kiwi has resistance around 1.575 level.
The NZ dollar that advanced to 1.2031 against the aussie in early deals stabilised thereafter. This is up 0.28 percent from Friday's New York session close of 1.2065. The kiwi may seek resistance around 1.19 level.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.