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28 Jan 2015
NZD/USD consolidated in bearish trend
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7453 with a high of 0.7462 and a low of 0.7436.
NZD/USD struggling with its minor recovery, despite the weakness surrounding the greenback that has steamed from overnight trade and previous sessions on the back of poor US data. Overnight, the catalyst for the decline in the US dollar came in the form of US Durable Good's missing expectations by a mile.
NZD/USD is in a bearish consolidation zone with the looming RBNZ meeting this week on the 29th. The Central Bank is widely expected to leave the OCR rate at 3.50%, however, it is the markets sentiment for a change of tone form the ban, moving from sightly hawkish into neutral due to disinflationary pressures kicking in and the major suspect of discussion coming in the form of lower oil prices weighing on CPI.
NZD/USD struggling with its minor recovery, despite the weakness surrounding the greenback that has steamed from overnight trade and previous sessions on the back of poor US data. Overnight, the catalyst for the decline in the US dollar came in the form of US Durable Good's missing expectations by a mile.
NZD/USD is in a bearish consolidation zone with the looming RBNZ meeting this week on the 29th. The Central Bank is widely expected to leave the OCR rate at 3.50%, however, it is the markets sentiment for a change of tone form the ban, moving from sightly hawkish into neutral due to disinflationary pressures kicking in and the major suspect of discussion coming in the form of lower oil prices weighing on CPI.