Back
12 Jun 2013
NZD/USD capped 0.8025
FXstreet.com (London) - In the morning session, NZD/USD marched on with intent in a continuation of its recent comeback.
NZD/USD trumps on majors
The NZD/USD is reacting well to stronger economic data in the economy, certainly in comparison to its closet rival, the AUD. Research teams at TD Securities commented that when macro becomes relevant again, they like short AUD/NZD in the current environment as Australia talks itself into recession while New Zealand activity data goes from strength to strength. However, moreover, the consolidative tone of the FX space overnight was likely the force behind the sudden and aggressive retracement in both pairs against a backdrop of non-performing counterparts in the market space. There has been a five cent depreciation of the NZD/USD since may, so it will be interesting to hear what is said about that in the RBNZ meeting tonight.
Technically, a NZD/USD positioned bullish phase
Indicators offer a bullish tone to the pair, and with the RBNZ tonight, a range of between the pivot 0.7850 and 0.8050/60 might be expected for the afternoon.
NZD/USD trumps on majors
The NZD/USD is reacting well to stronger economic data in the economy, certainly in comparison to its closet rival, the AUD. Research teams at TD Securities commented that when macro becomes relevant again, they like short AUD/NZD in the current environment as Australia talks itself into recession while New Zealand activity data goes from strength to strength. However, moreover, the consolidative tone of the FX space overnight was likely the force behind the sudden and aggressive retracement in both pairs against a backdrop of non-performing counterparts in the market space. There has been a five cent depreciation of the NZD/USD since may, so it will be interesting to hear what is said about that in the RBNZ meeting tonight.
Technically, a NZD/USD positioned bullish phase
Indicators offer a bullish tone to the pair, and with the RBNZ tonight, a range of between the pivot 0.7850 and 0.8050/60 might be expected for the afternoon.