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Currencies: the American dollar rebounded, Australian and New Zealand dollars record heavy weekly losses

07/11/2025
Source : ORISHAS FINANCE
Categories: Economy/Forex

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This weekend, the US dollar rebounded after disappointing Chinese trade data, while dollars Australians and New Zealanders were heavily penalized by the fall in global stock markets.

The dollar regained strength in Asia on Friday, while the pound sterling and the yen lost ground, while Lower than expected Chinese trade data has cooled the markets in the region. The dollar index, which measures the strength of the currency American currency, against a basket of six major currencies, grew by 0.1% to 99.796. The American currency has thus regained some of the lost ground. after the bets on a rate cut at the next meeting of the Federal Reserve erased the gains accumulated since the beginning of the month on Thursday. However, the index remains confined to the same range of fluctuations observed since August.

The dollars Australian and New Zealand should record heavy weekly losses on Friday, as global stock markets fell due to valuation concerns, the dollar New Zealanders facing additional pressure on rates of interest to remain near its lowest levels in seven months.

These two countries in the southern hemisphere are often used as indicators of global risk due to the dependence of their savings to exports of raw materials.

The Australian dollar remained stable at $0.6480, after falling by 0.4% overnight to reach a low of 0.6464 $.

The currency is expected to fall weekly rate of 1%, its first in a month, as buyers failed to cross the key resistance threshold of 65 cents. Despite this, analysts at The Commonwealth Bank of Australia anticipate an appreciation of the currency by the end of the year.

The New Zealand dollar did worse, losing again 0.1% to $0.5626, after a fall of 0.5% during the night who saw it hit a new low in seven months at $0.5626.

It is down 1.5% over the week after disappointing national employment figures have increased the risk of a decline at a rate of half a point, at 2%, by the Reserve Bank of New Zealand later this month, when the current rate is estimated at 10%.

The Australian dollar hovered around NZ$1.1503 on Friday, just below its all-time high level in 12 years, at 1.1508 NZ$, after gaining 0.6% this week

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