Currency Alerts
11/24/2009 11:06 PM ET
(RTTNews) -
During early Asian deals on Wednesday, the New Zealand dollar edged up against its U.S., European and Japanese counterparts as a gain in regional stocks increased demand for the currency.
The New Zealand stock market opened higher today and the benchmark NZX-50 index is currently up 7.19 points or 0.23% at 3,114.80.
On the other hand, the NZ dollar plunged to a new multi-month low against the Aussie due to across the board strengthening of the latter.
The New Zealand dollar, which closed yesterday's trading at 64.27 against the yen rose to 64.44 during early Asian deals on Wednesday. The next upside target level for the kiwi-yen pair is seen at 65.5.
Japan's merchandise trade balance logged a 807.1 billion yen surplus in October, compared to a 75.2 billion yen deficit in the same month a year earlier, as exports fell at a milder pace than imports. Exports were down 23.2% on year, the 13th straight month of decline. The fall was smaller than the 30.7% drop in September. Imports fell for the 12th straight month, dropping 35.6%, compared with a 36.9% slide in September.
In early Asian trading on Wednesday, the New Zealand dollar climbed to 0.7293 against the US currency. This may be compared to Tuesday's close of 0.7261. If the kiwi gains further, it may target the 0.737 level.
The New Zealand dollar strengthened to 2.0553 against the euro in early Asian deals on Wednesday. On the upside, 2.048 is seen as the next target level for the NZ currency. At yesterday's close, the euro-kiwi pair was quoted at 2.0623.
During early Asian deals on Wednesday, the New Zealand dollar fell to a new multi-month low of 1.2736 against the Aussie. If the kiwi weakens further, it may target the 1.286 level. The aussie-kiwi pair closed yesterday's trading at 1.2676.
Advertisements for skilled jobs in Australia rose to a seven-and-a-half year high in November, according to a report today by the Department of Employment and Workplace Relations(DEWR).
The Department's index showed skilled vacancies increased 2.4 percent from their October levels to reach its highest level since May 2002.
In the upcoming European session, the German GfK consumer confidence data for November, Italian consumer confidence for November and retail sales for December are expected.
Across the Atlantic, the U.S. durable goods orders, new home sales, personal income, spending and PCE deflator- all for the month of October and the weekly jobless claims report are scheduled for release in the New York session.
by RTT Staff Writer
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