The Australian Dollar / New Zealand Dollar cross represents the two Australasian currencies, which often trade similarly against other currencies due to the similar geographical locations and high rollover rates. Therefore, the cross moves on the actual changes in the local economies, and is not heavily affected by risk-trends or global factors. Commodity exports represent a significant segment of both economies with Australia shipping energy products and ferrous metals; while New Zealand is more known for its export of wool, meat and milk.
- 💸Stock markets rallied with commodity-linked assets amid ongoing US stimulus talks
- 🇳🇿NZD rallied after local jobs data published strong employment figures
- 🇦🇺🇳🇿#AUDNZD may now aggressively retreat from descending 5-year resistance channel
#AUDNZD on the cusp of breaking above a five-year descending resistance channel. Upcoming New Zealand jobs data could be a key catalyst. Stay tuned for a full technical and fundamental report in the next ~2 hours https://t.co/4tbgtBoySj
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