5 Mar 2015
NZD/USD: Pressing lower with cuation on RBNZ
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7480 with a high of 0.7597 and a low of 0.7453.
NZD/USD is starting to recover from the lows with a minor bit of upside coming as a result of bids at 0.7460, targeting 0.7500/20. However, the kiwi had been one of the worst performers as we await on the RBNZ. The market is on the fence which is weighing on the bird as there are talks of macroprudential measures that support views that the RBNZ could join the rate cutting club next week, as noted by analysts at TD Securities.
There was no out from New Zealand in the last couple of sessions but the analysts at TD Securities noted that the RBNZ issued a news release stating the Bank was consulting on new asset class treatment for loans made to residential property investors. We await US nonfarm payrolls tomorrow as next catalyst. Technically, the pair has breached the ascending supporting trend line from below the 0.72 handle with 0.7410 as target for the bears. A breach of here would open up space towards 0.7320 support.
NZD/USD is starting to recover from the lows with a minor bit of upside coming as a result of bids at 0.7460, targeting 0.7500/20. However, the kiwi had been one of the worst performers as we await on the RBNZ. The market is on the fence which is weighing on the bird as there are talks of macroprudential measures that support views that the RBNZ could join the rate cutting club next week, as noted by analysts at TD Securities.
There was no out from New Zealand in the last couple of sessions but the analysts at TD Securities noted that the RBNZ issued a news release stating the Bank was consulting on new asset class treatment for loans made to residential property investors. We await US nonfarm payrolls tomorrow as next catalyst. Technically, the pair has breached the ascending supporting trend line from below the 0.72 handle with 0.7410 as target for the bears. A breach of here would open up space towards 0.7320 support.