NZD/USD is currently trading at 0.7357 with a high of 0.7477 and a low of 0.7333.
NZD/USD has been set back a step on the back of the Nonfarm Payrolls report from the US today, and has the greenback trading back on the front foot, reminding markets who is the boss. The divergence between Central Banks is once again evident. Wheeler came out and spoke this week with a neutral tone while this jobs report will make those who were wondering whether a rate hike was too soon from the Fed to think again.
Meanwhile, Imre Speizer explained that, over the medium term, there remains potential for NZD/USD to fall further. "The next major target is 0.7120. As long as the US dollar’s uptrend remains intact, a break below 0.71 is likely." Further out, Imre Speizer said, "By late 2015, the exchange rate should stage a rebound to the low-to-mid 0.80’s if NZ’s commodity prices rise in line with global demand and the temporary supply effects dissipate. This, plus lingering positive risk sentiment, should offset any interest rate disadvantage resulting from Fed tightening."
NZD/USD has been set back a step on the back of the Nonfarm Payrolls report from the US today, and has the greenback trading back on the front foot, reminding markets who is the boss. The divergence between Central Banks is once again evident. Wheeler came out and spoke this week with a neutral tone while this jobs report will make those who were wondering whether a rate hike was too soon from the Fed to think again.
Meanwhile, Imre Speizer explained that, over the medium term, there remains potential for NZD/USD to fall further. "The next major target is 0.7120. As long as the US dollar’s uptrend remains intact, a break below 0.71 is likely." Further out, Imre Speizer said, "By late 2015, the exchange rate should stage a rebound to the low-to-mid 0.80’s if NZ’s commodity prices rise in line with global demand and the temporary supply effects dissipate. This, plus lingering positive risk sentiment, should offset any interest rate disadvantage resulting from Fed tightening."
