16 Jan 2014
AUD/NZD tumbles to 8-year lows
FXstreet.com (Córdoba) - After a quick slide of 95 pips after the Australian jobs report, the AUD/NZD stabilized, moved in ranges during the European session between 1.0595 and 1.0565 but extended the decline during New York trading and fell to 1.0540, hitting a fresh 8-year low.
In the las minutes bounced slightly and closed at 1.0555, 125 pips below the price it had at the beginning of the day or 1.2% lower.
Bad week for the AUD/NZD
Since June 2011 that the AUD/NZD did not post such weekly losses, if confirmed. From the price it had at the beginning of the current week to the actual, 1.0557, it has dropped almost 300 pips. Such movement came after four weeks with consolidation moves. A year ago the AUD/NZD was trading above 1.2500, since then, it has lost 16% of its value.
In the las minutes bounced slightly and closed at 1.0555, 125 pips below the price it had at the beginning of the day or 1.2% lower.
Bad week for the AUD/NZD
Since June 2011 that the AUD/NZD did not post such weekly losses, if confirmed. From the price it had at the beginning of the current week to the actual, 1.0557, it has dropped almost 300 pips. Such movement came after four weeks with consolidation moves. A year ago the AUD/NZD was trading above 1.2500, since then, it has lost 16% of its value.