The Aussie and Kiwi went higher against the American Dollar

The Aussie and Kiwi went higher against the American Dollar

By: Simon Furman | Where To Trade | On:Wenesday. November 23, 2016
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The Aussie and the Kiwi were higher against the dollar on Wednesday, even though the Australian data was low. It seems like the Greenback is taking a break from its exhausting rally to 14-year highs.

The AUS/USD pair went higher to 0.7438, ranking the highest score since 17 of November.

The Australian Bureau of Statistics gave some declaration on the construction work done this year. According to the ABS, the construction work done lowered by 4.9% in the third quarter, and compared to expectation of 1.7% fall, this was more than disappointing.

As for the second quarter, the construction work done dropped by 3.1%, apparently better than the expectation of 3.7% of falling. 

This way, the NZD/USD rose to 0.7078.

The markets are still waiting for Donald Trump to  cut taxes and ramp up fiscal spending in order to sway in a positive way the inflation and stimulate the economic growth.

The Dollar Index headed lower by 0.12%, reaching 100.97. 

 

Simon Furman

Simon Furman

Think Global - Act Local

Simon Furman is one of the best financial analyst with 27 years of trading experience

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