AUD/USD, NZD/USD, RBA, RBNZ, S&P 500, Rising Markets – Speaking FactorsAustralian Greenback, New Zealand Greenback Diverge wi
AUD/USD, NZD/USD, RBA, RBNZ, S&P 500, Rising Markets – Speaking Factors
Australian Greenback, New Zealand Greenback Diverge with S&P 500, Rising Markets
The “pro-risk” Australian Dollar and similarly-behaving New Zealand Dollar have typically been struggling to capitalize on aggressive beneficial properties in general market sentiment as of late. For the reason that starting of January, the S&P 500 and MSCI Rising Markets Index (EEM) are up about 2.7% and a couple of.5% respectively. These beneficial properties partly mirrored optimism into the US-China “phase one” trade deal signed on January 15.
On the chart under, I’ve overlaid S&P 500 futures and the EEM with a majors-based AUD and NZD index. The latter two are composed of a median of their efficiency in opposition to the most-liquid foreign exchange majors. These embrace the US Greenback, Euro, Japanese Yen and British Pound. For the reason that finish of 2019, each the NZD and AUD have typically been weakening regardless of a transparent enchancment in market temper. What provides?
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Jan 28
( 03:01 GMT )
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