NZ Dollar Falls Against Majors

The New Zealand dollar weakened against the other major currencies in the Asian session on Friday.

The NZ dollar fell to 1.4664 against the euro and 0.7214 against the U.S. dollar, from yesterday’s closing quotes of 1.4631 and 0.7229, respectively.

Against the yen, the kiwi dropped to 81.35 from an early high of 81.59.

The kiwi edged down to 1.0688 against the Australian dollar, from an early 4-day high of 1.0656.

If the kiwi extends its downtrend, it is likely to find support around 1.49 against the euro, 0.70 against the greenback, 79.00 against the yen and 1.07 against the aussie.

The material has been provided by InstaForex Company – www.instaforex.com

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Fxwirepro: Usd/cny Hovers Around 6.87 Mark, Pboc sets Yuan Mid-Point at 6.8655

  • USD/CNY is currently trading around 6.8705 marks.
     
  • It made intraday high at 6.8730 and low at 6.8608 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 6.8600 mark.
     
  • A sustained close above 6.8621 marks will test key resistances at 6.88, 6.8916, 6.9080, 6.9162, 6.9336, 6.9496, 6.9615, 6.9778 and 6.9883 marks respectively.
     
  • Alternatively, a daily close
    below 6.8621 will drag the parity down towards key supports at 6.8510, 6.8465, 6.8333, 6.8298, 6.8090 and 6.7769 marks respectively.
     
  • PBOC sets Yuan mid-point at 6.8655/dollar vs last close 6.8735.                                             

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

The material has been provided by InstaForex Company – www.instaforex.com

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Taiwan Jobless Rate Rises Unexpectedly In January

Taiwan’s unemployment rate increased unexpectedly at the start of the year, though slightly, the Directorate General of Budget Accounting and Statistics, or DGBAS, showed Friday.

The seasonally adjusted jobless rate rose to 3.84 percent in January from 3.83 percent in December. Economists had expected the rate to drop to 3.80 percent.

The number of unemployed people climbed to 452,000 in December from 450,000 in the previous month. A year ago, the jobless figure totaled 460,000.

The labor force participation rate came in at 58.78 percent in January, up from 58.76 percent in the prior month.

On an unadjusted basis, the unemployment rate edged down to 3.78 percent in January from 3.79 percent a month ago.

The material has been provided by InstaForex Company – www.instaforex.com

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