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22 Apr 2015
NZD/USD to take a rest-bite in Asia?
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7668 with a high of 0.7676 and a low of 0.7662.
NZD/USD is in consolidation of the downside of the 0.77 handle's losses when the supply met a bounce of the previous correction on overnight trade in a choppy and a volatile FX space. The rally commenced in the 0.7630's reaching 0.7713 the high with a quick decline to 0.7670 before a grind back higher to reach just a handful of pips on the handle again where the bird was left heavy and tipping back below and heading south for the consolidation in to Asia.
With there being a lack of volume and data, the price action might be expected to be that of a sideways motion throughout the day ahead in a rest-bite of the volatility overnight. Imre Speizer, analyst at Westpac in fact highlighted RBNZ Ass. Gov. McDermott’s speech on inflation on Thursday as being the next one to watch from New Zealand, but explained not to expect any monetary policy signals with an RBNZ OCR Review scheduled for 30 April. "The US data calendar is mostly lightweight, and there are no Fed speeches. So NZD/USD will be driven mainly by sentiment, which is currently bullish. We target the 0.7800- 0.7890 area."
NZD/USD is in consolidation of the downside of the 0.77 handle's losses when the supply met a bounce of the previous correction on overnight trade in a choppy and a volatile FX space. The rally commenced in the 0.7630's reaching 0.7713 the high with a quick decline to 0.7670 before a grind back higher to reach just a handful of pips on the handle again where the bird was left heavy and tipping back below and heading south for the consolidation in to Asia.
With there being a lack of volume and data, the price action might be expected to be that of a sideways motion throughout the day ahead in a rest-bite of the volatility overnight. Imre Speizer, analyst at Westpac in fact highlighted RBNZ Ass. Gov. McDermott’s speech on inflation on Thursday as being the next one to watch from New Zealand, but explained not to expect any monetary policy signals with an RBNZ OCR Review scheduled for 30 April. "The US data calendar is mostly lightweight, and there are no Fed speeches. So NZD/USD will be driven mainly by sentiment, which is currently bullish. We target the 0.7800- 0.7890 area."