SINGAPORE, March 14 (Reuters) - The Australian and New Zealand dollars headed for a surprisingly steady week against other majors on Friday, as tariff-driven selling of U.S. assets was offset by a wobbly U.S. dollar.
The Aussie AUD=D3 traded at $0.6291, about 0.2% weaker than where it finished last week. That's at the weaker end of where the pair has traded for two decades, but it is in a channel between resistance at $0.6355 and support at $0.6260.
The kiwi dollar NZD=D3 is likewise headed for a weekly drop of about 0.2% and sat at $0.5707 on Friday. It has support around $0.5650 and resistance near $0.5725. UOB analysts in Singapore say they expected broad ranges to hold and others agree.
Because investors' chief concern seems to be a slowdown in the U.S. economy, the U.S. dollar has missed out on the buying it typically tends to win in times of market turbulence.
Unless there is a turnaround on Friday, U.S. stocks were set for their largest weekly fall in a year. .N
"More short-term bursts of AUD and market volatility are likely over the period ahead as global economic and market ructions play out," said Peter Dragicevich, Asia-Pacific currency strategist at Corpay.
Weekly moves against the euro and yen were likewise contained, especially as the euro has recoiled from multi-year highs on the Aussie and kiwi in recent sessions.
The euro broke to post-COVID highs earlier in the week on expectations that German plans to borrow and spend on infrastructure and defence will revive the continent's economy.
The Aussie fell to as low as 0.5738 euros, but has since steadied around 0.58.
"We expect AUD/EUR to rebound from current low levels," said Joe Capurso, a strategist at Commonwealth Bank in Sydney.
"We are sceptical defence spending can be quickly increased to more than $500 billion per year ... it will take several years to expand existing and build new manufacturing capabilities."
Local debt markets were stable on Friday, with 10-year Australian government bond yields AU10YT=RR flat for the week at 4.42%.
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