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16 Mar 2015
NZD/USD: Subdued below heavy downtrend
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7373 with a high of 0.7410 and a low of 0.7315.
NZD/USD is camping out here on a slow start to the week where the greenback has been giving a little back again as it did so in the middle of last week's business before levels were too hard to resist for the bulls. The Bird has been better bid since falling back behind the 0.72 mark and has made a convincing minor correction with very few obstacles thus far.
Imre Speizer, analyst at Westpac Banking Corporation explained that NZD/USD remains subdued by broad US dollar strength. "The FOMC on Wed will be the main event this week for near-term direction. NZ GDP (Thu) will be watched but of secondary importance. We expect 0.7175 to be tested." Further out, Speizer looks for lower to 0.71-, "With the RBNZ signalling it’s on hold for the next two years, while the Fed is due to tighten by September. In addition, we expect NZ economic data for Q1 and Q2 to be soft."
NZD/USD is camping out here on a slow start to the week where the greenback has been giving a little back again as it did so in the middle of last week's business before levels were too hard to resist for the bulls. The Bird has been better bid since falling back behind the 0.72 mark and has made a convincing minor correction with very few obstacles thus far.
Imre Speizer, analyst at Westpac Banking Corporation explained that NZD/USD remains subdued by broad US dollar strength. "The FOMC on Wed will be the main event this week for near-term direction. NZ GDP (Thu) will be watched but of secondary importance. We expect 0.7175 to be tested." Further out, Speizer looks for lower to 0.71-, "With the RBNZ signalling it’s on hold for the next two years, while the Fed is due to tighten by September. In addition, we expect NZ economic data for Q1 and Q2 to be soft."