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NZD/USD down, but holding its own unlike many other “risk currencies”

FXstreet.com (Barcelona) - The NZD/USD is trading right at the same level as it was prior to the release of the better-than-expected New Zealand Business Confidence.

NZD/USD traders to focus on geo-politics and US data later Monday

Along with the obvious troubling news out of Italy and the US, NZD/USD traders were faced with trading around the release of New Zealand Business Confidence at 01:00 GMT. Surprisingly – given the tone of things today and the recent trend in news from New Zealand – the data was better-than-expected.

Later Monday, in addition to government concerns in Italy and the US, NZD/USD traders will be reacting to Chicago PMI out of the US.

Technical outlook for NZD/USD

Technicians say resistance for NZD/USD comes in at 0.8292 and short-term support comes in at 0.8216. The next meaningful resistance and support for NZD/USD comes is at 0.8311 and 0.8126 respectively.

Flash: Risk to NZD/USD near term, it could fall to 0.8160 - Westpac

A fresh risk to NZD/USD near term is the looming US Government shutdown, notes Imre Speizer, FX Strategist at Westpac, in a research note to clients.
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Session Recap: Risk off as appetizer on Italy, US shutdown

The Japanese Yen was the winner in the Asian session, after aggressive 'flight to safety' bids stormed in the interbank trading, resulting on significant gap down in all Yen crosses, while Euro was also weakened modestly.
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