⁍ The Australian and New Zealand dollars held firm on Tuesday.

---

⁍ Both countries’ relative success in combating COVID-19 supported local sentiment.

---

⁍ Most of Australia has little to no new cases of COVID-19.

---

– The Australian and New Zealand dollars held firm on Tuesday as both countries’ relative success in combating coronavirus supported local sentiment in the face of a darkening global outlook. The Australian and New Zealand dollars held firm on Tuesday as both countries’ relative success in combating coronavirus supported local sentiment in the face of a darkening global outlook, reports Reuters. The Aussie was up 0.1% at $0.7131 AUD=D3, comfortably above its recent low of $0.7018 and far from the next major resistance barrier at $0.7158. The kiwi dollar was firmer at $0.6683. While the resurgence of the coronavirus is threatening economic growth in Europe and the United States, most of Australia has little to no new cases, and the country’s second largest city Melbourne is finally re-opening having contained a major outbreak. This relative success helped consumer confidence climb to an eight-month high, according to an weekly survey from ANZ. “People remain cautious about the current economic outlook,’ said ANZ’s head of Australian economic David Plank. “But confidence in future economic and financial conditions is much more positive …holding out the prospect of a recovery in spending if the labor market holds up.”