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SYDNEY: The Australian and New Zealand dollars crept higher on Thursday as a key commodity index jumped to four-month peaks and provided support amid a dearth of major domestic economic data.

The Aussie inched to up $0.6626 and away from the week’s trough of $0.6583. Resistance comes in at $0.6638 and last week’s top of $0.6667.

The kiwi dollar added 0.1% to $0.6164, after finding support at $0.6136 early in the week. Major resistance lies at $0.6217.

Sentiment benefited from gains in some commodity prices, as concerns about supply lifted oil and copper. Both Australia and New Zealand are major resource exporters.

The S&P GSCI commodity index, for instance, boasted it biggest daily gain since late January to break stiff chart resistance and hit levels last seen in mid-November.

That was timely for Australia as its biggest export earner, iron ore, has been on the slide in recent weeks due to signs of soft demand from China.

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