14 Mar 2016
Antipodeans outperforming - Westpac
Analysts at Westpac Banking Corporation explained that the outperformer, AUD, rose from under 0.7500 to 0.7584 in NY, another high since July 2015.
Key Quotes:
"However, having closed NY around 0.7565, the Aussie dipped about 20 pips early Monday after the weak Chinese industrial production data reinforced suspicions that the iron ore price rally of recent weeks will not be sustained.
The kiwi also surged in NY trade, NZD/USD rising as far as 0.6774 but trading a full half cent lower to start the week. This left AUD/NZD consolidating gains at 1.1220."
Key Quotes:
"However, having closed NY around 0.7565, the Aussie dipped about 20 pips early Monday after the weak Chinese industrial production data reinforced suspicions that the iron ore price rally of recent weeks will not be sustained.
The kiwi also surged in NY trade, NZD/USD rising as far as 0.6774 but trading a full half cent lower to start the week. This left AUD/NZD consolidating gains at 1.1220."