Situation appears rather bleak on the AUD/USD and NZD/USD pairing. There are concerns that the recent resurgence of new Coronavirus cases in both regions could have an adverse impact on the economy of both regions that are commodity linked. The US economic data which has performed better than market expectations has also pressured these currencies.
Reports from US shows that the housing market is picking as pending home sales rose up 44.3% (beating estimation of 18.9%) and up from the previously reported -21.8%.
#AUD/USD##NZD/USD##trading#Meantime, in Australia, Private Sector Credit fell 0.1% while in New Zealand, the latest ANZ business confidence report came in at -34.4, down from the previously reported -33.0 and is pointing towards a recession.
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