SYDNEY, Feb 9 (Reuters) – Australian and New Zealand dollars traded higher against the green on Tuesday, as market sentiment improved and optimistic economic analyzes pushed risk-sensitive currencies to highs multi-week.
The Aussie was 0.32% higher to $ 0.7727 against the green, the highest level since Jan. 27, climbing toward the January high of $ 0.7819 as a review of industry confidence showed continued economic recovery for the Antipodean country.
The National Bank of Australia’s business confidence index doubled to +10 points in January, even as conditions receded from historic highs as coronavirus outbreaks reduced activity in a few cities but were ultimately .
Across the Tasman, the kiwi dollar traded 0.46% higher to $ 0.7253, the highest level in a month, after finding support at $ 0.7220, as it approaches its January high of $ 0.7314.
Asian stock markets rose Tuesday after a record-breaking day on Wall Street, while Oil also hit 13-month highs, helped boost hopes of a return in fuel demand.
“Both currencies today address the strong overnight session in U.S. equities, oil and precious metals, and then the local data has boosted both the Aussie and the Kiwi , ”Said Steven Dooley, APAC finance strategist at Western Union Business Solutions.
New Zealand’s inflation expectation for the year rose sharply to 1.77%, from 1.23% previously, a survey by the central bank showed, while 30-year expectations rose a 30 basis point to 1.89%.
“Markets have been recognizing Covid’s successful management in New Zealand and pursuing an economic recovery, but recent economic data has surprised even the most optimistic pundits,” Westpac analysts said in a note to the market. -dealing.
10-year paper yields rose to an 11-month high of 1.45%, from 1.15% at the beginning of the month and a pool of 0.49% back in September. Australia’s 10-year bond yield was 1.23%, down from 1.27%.
Reporting by Paulina Duran in Sydney. Edited by Gerry Doyle