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18 Mar 2015
NZD/USD: Consolidating the downside to 0.7300
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7308 with a high of 0.7324 and a low of 0.7302.
NZD/USD has consolidated the losses overnight across the board and vs the greenback the pair finds support on the 0.73 handle. The events will start to come in now for the bird with the Q4 current account deficit on the same day as the FOMC announcements and then on Thursday we have Q4 GDP for NZ. However, these domestic data's may not be a catalyst for movement as much as the FOMC. Then, on Friday there is the net migration report for a population growth update.
In respect of the price of the bird, the RBNZ has been one of three developed world banks since the Fed closed its QE programme that either hasn't supplied its money on the market or needed to cut interest rates, and that is keeping the bird supported on a carry trade basis. Technically, 0.7176 marks the Feb 2015 lows with 0.7620 acting as bulls target, seeing the pair back into neutral/bearish territory.
NZD/USD has consolidated the losses overnight across the board and vs the greenback the pair finds support on the 0.73 handle. The events will start to come in now for the bird with the Q4 current account deficit on the same day as the FOMC announcements and then on Thursday we have Q4 GDP for NZ. However, these domestic data's may not be a catalyst for movement as much as the FOMC. Then, on Friday there is the net migration report for a population growth update.
In respect of the price of the bird, the RBNZ has been one of three developed world banks since the Fed closed its QE programme that either hasn't supplied its money on the market or needed to cut interest rates, and that is keeping the bird supported on a carry trade basis. Technically, 0.7176 marks the Feb 2015 lows with 0.7620 acting as bulls target, seeing the pair back into neutral/bearish territory.