17 Aug 2015
NZD/USD: consolidated and set for a busy week
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6538 with a high of 0.6551 and a low of 0.6529.
NZD/USD is a quiet start as we progress early Asia having been supported on the downside in to the close of last week's session on 0.6520. The US dollar got a boost last week from better than expected retails sales. For this week, markets are awaiting the CPI's and FOMC minutes to set the pace for the rest of the month. This will be leading us in to the next FOMC and showdown in September where markets have been pricing in a possible rate hike from the Fed. Commodity prices continue to weigh on the bird as well as the uncertainties in the growth outlook for China and subsequent policies of actions from the PBoC that have dominated the headlines in recent sessions.
NZD/USD levels
The range remains and 0.6640 ahead of 0.6780 are the key up-side targets with 0.6720/38 coming as first major resistance. A score to 0.7080 will close the bearish gap of early June trade.
NZD/USD is a quiet start as we progress early Asia having been supported on the downside in to the close of last week's session on 0.6520. The US dollar got a boost last week from better than expected retails sales. For this week, markets are awaiting the CPI's and FOMC minutes to set the pace for the rest of the month. This will be leading us in to the next FOMC and showdown in September where markets have been pricing in a possible rate hike from the Fed. Commodity prices continue to weigh on the bird as well as the uncertainties in the growth outlook for China and subsequent policies of actions from the PBoC that have dominated the headlines in recent sessions.
NZD/USD levels
The range remains and 0.6640 ahead of 0.6780 are the key up-side targets with 0.6720/38 coming as first major resistance. A score to 0.7080 will close the bearish gap of early June trade.