Australian dollar extends fall to 2-year low, defies strong retail data

(Corrects paragraph 6 to make clear offshore yuan hit low)

SYDNEY, Sept 28 (Reuters) - The Australian and New Zealand dollars extended their declines to fresh two-year lows on Wednesday as the safe-haven dollar received another boost from jittery traders amid continued selling of stocks and bonds.

The Aussie slid 0.6% to break through 64 cents and last traded at $0.6395 AUD=D3 , the lowest since May 2020. It failed to sustain a minor rally overnight and finished the session 0.4% lower. There does not appear to be any major support in sight.

That brought its losses against the U.S. dollar this year to a staggering 12%, although the Aussie was 1% higher against a basket of its major trading partners' currencies =AUD so far in 2022, reflecting the broad strength in the greenback.

The antipodean currency also failed to get any material support from better-than-expected retail sales data, which showed Australian shoppers were proving resilient to red-hot inflation and rising interest rates.

"With safe haven demand for the USD still intact, there are no signs of easing pressure on the AUD," said analysts at ANZ.

Adding to the downside, the offshore Chinese yuan hit a record low of 7.2 per dollar CNH= . Many investors use the Aussie as a proxy for the yuan given China is Australia's single biggest export market and a driver of commodity prices.

The kiwi shed 0.8% to $0.5585 NZD=D3 on Wednesday, sitting not too far from the March 2020 trough at $0.5469.

Australia's strong retail sales figures are likely to add to the case for a 50 basis-point rate hike from the Reserve Bank of Australia next week. Markets are leaning toward a half-point rise to 2.85% on Tuesday and see rates as high as 4.45% by the middle of next year. 0#RBAWATCH

Australian 10-year government bond yields AU10YT=RR have shot up by almost 50 basis points in the past five sessions to the highest since June. However, it still outperformed U.S. Treasuries with the yield spread narrowing to 15 bps.
Reporting by Stella Qiu; Editing by Ana Nicolaci da Costa

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。