Excerpt from: Forex Analysis
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| July 20, 2010 | | China helps Aussie and kiwi in currency trading | Down under currencies are outperforming in forex trading today as optimism about China helps matters. Indeed, there is an assumption that China will eventually ease its money policies, and that growth will pick up again. Australia and New Zealand have strong trade ties to China, and benefit from this relationship.
For now, the Aussie and the kiwi are both higher in currency trading on the FX market, bucking the risk aversion that has set in, lowering the euro in forex trading.
However, it remains to be seen how long the down under currencies can maintain their strength in the face of increasing worries about the global economy and the risk of a double dip recession in the U.S.
| Topic Tags: currencies, currency trading, down under currencies, euro, forex trading, FX market, U.S. dollar | |
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