The Australian and New Zealand currencies clung on to overnight gains against the greenback on Friday with investors reluctant to push them higher ahead of the closely watched U.S. jobs data.
* Australian dollar last traded at $0.9756, having risen as high as $0.9775 after talk the European Central Bank had stepped up its purchases of peripheral euro zone bonds helped eased worries about the debt crisis.
* Aussie close to resistance levels, which begins at $0.9781 and then $0.9820. Support from $0.9698 and $0.9621.
* Any upside surprise in the U.S. jobs data due at 1330 GMT could drive the Aussie back above $0.9800. Forecasts centre on an increase of 140,000 non-farm payrolls and the jobless rate to remain steady at 9.6 percent.
* The euro also taking a breather after strong rally overnight.
* Risk sentiment further helped by more solid U.S. data with pending home sales jumping 10.4 pct and reports of good sales from retailers.
* Aussie bounce caught many short after they initially sold following an unexpected drop in October retail sales on Thursday.
* New Zealand dollar last at $0.7555, having reached a one-week high of $0.7564.
* Support for the kiwi from $0.7451, with resistance at $0.7566.
* The strength in the Aussie pushed it to a three-week high of NZ$1.2950 on the cross rate. It was last at NZ$1.2897.
* Interest rate decisions in both Australia and New Zealand due next week although both central banks seen remaining on hold while eyeing rises in 2011.
* NZ govt debt yields ease about 2 basis points.
* Australian bond futures lower, with the three-year contract down 0.05 points at 94.99, and 10-year futures off 0.045 points at 94.53. (Australia/New Zealand bureaux)
www.ibtimes.com
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