- Analytics
- News and Tools
- Market News
- NZD/USD: Technical bounce off 0.60 looks more secure now – ANZ
NZD/USD: Technical bounce off 0.60 looks more secure now – ANZ
NZD/USD is holding up in the mid-0.61s. US CPI data today will be crucial as will NZ data tomorrow/Thursday, economists at ANZ Bank report.
Fed Funds rate to peak at 4%
“US Dollar Index has fallen for 3 days in a row and is now about 2.2% off 20-year highs seen last week. This correction has coincided with the rebound in bond yields ahead of US CPI and a lift in market expectations for the Fed Funds rate to peak at 4%, which is a high for the cycle. From that (USD-centric) perspective, the move looks a bit odd, but it’s the rebound of the EUR on news that Ukraine had taken back territory and ECB hawkishness that’s driving FX markets right now. So it’s complicated and arguably a bit fickle, and we’re wary of volatility.”
“NZ C/A and GDP data this week ought to shift the NZD focus back toward domestic factors.”
“Technical bounce off 0.60 also looks more secure now.”
See – NZ GDP Preview: Forecasts from four major banks, weaker but not a game changer for the OCR
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
