The Australian dollar, NZDT and NZS are set to hit a new all-time high in early trading on Thursday as investors brace for another surge in the value of the Australian dollar and the prospect of a sharp fall in the greenback.
Aussie dollar: The Australian Dollar hit a record high on Thursday and is set to climb further.
The Australian dollar is set for a record-breaking high on July 1.
On July 1, the Australian currency is set at $1.00 and is expected to fall by more than half to around $1 as the government tries to stem the impact of the global financial crisis.
As of Wednesday, the NZDT was trading at $0.90 while the NZS was trading $1 and the Australian Dollar was trading around $0, the S&P 500 index tracking the greenbacks.
At the same time, the US Dollar was set to move into a new record as investors look to secure a safe return on their investment in the US economy, with the US Treasury and Federal Reserve raising interest rates by as much as a quarter to help plug a hole in the economy caused by the global economic downturn.
New Zealanders have seen the dollar rise sharply this year and the recent drop in the AUD is a sign of growing confidence that the country is finally on track to achieve economic growth.
US Dollar: Investors have reacted with dismay to the recent plunge in the American Dollar, with investors buying US Treasuries and the Fed raising interest rate targets in an attempt to stem any potential economic damage.
However, with markets expected to be more volatile than usual due to the financial crisis, investors are looking for a safe haven in a time of uncertainty.
NZDT: NZDT is set as the biggest gainer in the past month.
It gained 0.4% to $4.16 on Thursday, while the US dollar was up 0.3% to 96.3 cents US.
S&: The S&s index was set as an overall gainer by 0.7%.
The US dollar is trading around 98 cents US and is the largest gainer this year.
Australian Dollar: The dollar has jumped on Wednesday after US President Donald Trump raised interest rates and the Federal Reserve raised interest rate target from 0.25% to 0.50%.
As a result, the New Zealand dollar has climbed sharply and is now trading at 93.99 cents US, its highest level since March 2014.
Japanese Yen: Japanese yen has been hitting new highs since the election of Japanese Prime Minister Shinzo Abe, who has promised to slash corporate tax rates to spur economic growth and lift Japan’s economy out of its current economic crisis.
On Thursday, the Japanese yen was trading as high as 1,039.23 per dollar.
Australia Dollar:The Australian Dollar is set on a record on Thursday.
Its value is set after a strong rally in the first quarter, and it has continued to rise, hitting an all-year high.
While the Australian Government has pledged to increase the GST to help boost the economy, analysts believe the new government will be able to boost the budget deficit as well.
Indian Rupee: India has also seen its rupee gain against the US currency this year, as the two nations are expected to enter a trade agreement soon that will allow the countries to cut tariffs.
India is expected sign a trade deal with the U.S. next month that will see the countries begin to reduce their tariffs.
The US Dollar has been rising against the rupee since the U,S.
Federal Reserve lifted its interest rate hike in July.
Meanwhile, the Indian rupee is also set to surge against the Japanese Yen, as investors have been buying the two currencies as they look to gain an economic edge against China.
Gold Bullion:Gold is also expected to soar in the coming days.
In July, gold was trading below $1,300 an ounce and it is set now to hit the $1-1,600 mark.
Chinese Yuan: China’s currency, the yuan, is set in a fresh record of $1.,618.80 on Thursday ahead of the world’s biggest stock market close.
With investors expecting the greencurrencies to reach a record low, the Chinese yuan is set set to rise to $1 trillion before the end of the year.
China is also preparing to introduce a new set of reforms to make it easier for foreign investors to enter the country.
Japan Yen:Japan has also set a new high of $2,534.88 in its latest trading session.
But while the yen has climbed against the U.,S.
dollar this year the Japanese government is trying to stem losses caused by a global economic slowdown