The New Zealand Dollar (NZD) is expected to continue to trade in a range, albeit a lower one of 0.5955/0.5995. In the longer run, weakness in NZD from early last month has ended; it is likely to trade in a 0.5940/0.6040 range for now, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
24-HOUR VIEW: “We expected NZD to trade in a choppy manner between 0.5865 and 0.6015 yesterday. NZD subsequently traded in a narrower range than expected (0.5973/0.6016). Further range trading appears likely, even though the slightly softened underlying tone suggest a lower range of 0.5955/0.5995.”
1-3 WEEKS VIEW: “We revised our NZD outlook from negative to neutral yesterday (04 Nov, spot at 0.5985), indicating that ‘the weakness in NZD from early last month has ended.’ We also indicated that NZD ‘has likely entered a range trading phase and is expected to trade between 0.5940 and 0.6040 for now.’ There is no change in our view.”
© 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.