News Column

AUD and NZD pick up after China`s inflation data

February 14, 2014

The Australian dollar and New Zealand dollar gained against the U.S dollar and other major currencies, after China`s fundamentals showing inflation remains within the safe range, giving a chance for the government to support economic growth. Moreover, inflation is still moving in sideways, without signaling any risk, which encouraged traders to buy NZD and AUD, since China is the main trade partner for both New Zealand and Australia. AUD/USD picked up to record the highest at 0.9205, after it was trading around 0.8980 ahead of the released data. The Australian dollar also gained against yen to 92.28, from 91.76 ahead of today`s news. As for NZD/USD, it inclined to a four-week high at 0.8366, from 0.8343 before the released inflation data. Nevertheless, NZD/JPY picked to 85.56 levels.  Regarding USD/JPY, it is still moving in side ways to be trading around 102.25 levels.

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Source: Financial Markets

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