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6 Feb 2015
NZD/USD: Comes with a bullish bias and eye's 0.7500
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7392 with a high of 0.7410 a d a low of 0.7385.
With it being a public holiday in NZ, Waitangi Day, we have nothing from the calendar to work with, although the main feature comes with the RBA's Statement on Monetary Policy. We will be looking here to establish how much lower the Bank’s inflation and growth forecasts are.
For the bird, the Kiwi got a recent lift from Wheeler’s speech. This speech was not as dovish as anticipated and that removed the prospect of rate cuts any time soon, and at the same time, the dairy bounce has supported the currency and through 0.74, there are risks for 0.750 and 0.7600 while 0.7450 currently contains that pair. However, the greenback is soft for now, but the Nonfarm Payrolls are on their way later today in the US session and this will likely be either a direction changer of the catalyst for 0.7500 and beyond.
With it being a public holiday in NZ, Waitangi Day, we have nothing from the calendar to work with, although the main feature comes with the RBA's Statement on Monetary Policy. We will be looking here to establish how much lower the Bank’s inflation and growth forecasts are.
For the bird, the Kiwi got a recent lift from Wheeler’s speech. This speech was not as dovish as anticipated and that removed the prospect of rate cuts any time soon, and at the same time, the dairy bounce has supported the currency and through 0.74, there are risks for 0.750 and 0.7600 while 0.7450 currently contains that pair. However, the greenback is soft for now, but the Nonfarm Payrolls are on their way later today in the US session and this will likely be either a direction changer of the catalyst for 0.7500 and beyond.