Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Australia, NZ dlrs hold near recent lows amid Omicron uncertainty

11/30/2021 | 12:08am EST

SYDNEY, Nov 30 (Reuters) - The Australian and New Zealand dollars drifted against the greenback on Tuesday, hovering around recent lows as markets assessed the severity of the Omicron coronavirus variant on the world economy.

The Australian dollar was steady at $0.7143 at 0441 GMT, after hitting a three-month trough of $0.7115 late last week as countries began to restrict travel from southern Africa, where the virus was first reported.

The New Zealand dollar was slightly higher at $0.6827, after slipping to a one-year low of $0.6788 on Friday.

"(The Omicron variant) has injected a considerable degree of uncertainty with a need for patience as the scientific and health community assess its severity, the effectiveness of current vaccines, and the time frame for the production and distribution of new Omicron-specific vaccines if needed," RBC Capital strategists told clients in a note.

"Early signs on transmissibility and mutations argue for caution."

Australian authorities said on Tuesday that an international traveller who was most likely infected with the Omicron variant had spent time in a busy shopping centre in Sydney. If confirmed, it would be the 6th known person infected with the new variant in the country.

Shares in Asia were higher on Tuesday as hopes grew that the variant might prove to be milder than initially feared, while strong regional economic data also helped underpin the risk-sensitive antipodean currencies, strategists said.

China's factory activity unexpectedly picked up in November, growing for the first time in three months as a crippling surge in raw material prices and power rationing eased.

In Australia, strong exports and government stimulus spending in the third quarter boosted economic output, official data showed on Tuesday.

Bond markets were slightly stronger, sending Australian 3-year yields 3 basis points lower to 0.90%, while 10-year yields fell two basis points to 1.74%.

New Zealand yields were two and a half basis points lower across the curve. (Reporting by Paulina Duran; editing by Richard Pullin)

ę Reuters 2021
Latest news "Economy & Forex"
10:12aU.S. banks look forward to 'bread-and-butter' growth as economy rebounds
10:09aWall Street rebounds, dollar higher after Fed's Powell strikes hawkish tone
10:04aCrypto giant Binance hopes Russia will help regional growth
10:03aU.S. pending home sales fall for second straight month in December
10:02aSouthwest Airlines reports first quarterly profit in two years
09:59aGerman parliament to vote on climate funds
09:59aMali's junta tells France to keep 'colonial reflexes' to itself
09:57aDenmark pulls Mali troops out as junta takes swipe at France
09:55aEarly data show January losses for stock picking hedge funds
09:54aQatar's top envoy visits Iran as Tehran and Washington consider direct nuclear talks
Latest news "Economy & Forex"