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23 Apr 2015
NZD/USD sells heavily, breaks below 0.76
FXStreet (Bali) - NZD/USD is down over 0.85% in early Tokyo, as aggressive selling flows return to the market, resulting in the rate printing its lowest at 0.7589 after a NY close of 0.7662.
Below 0.7610, according to Jim Langlands, Founder at FXCharts, means that we should "head back into the consolidation zone, where further choppy trade would seem likely ahead of 0.7585 (200 HMA) and 0.7530 (38.2%)", Jim said.
RBNZ assistant Gov McDermott has crossed the wires, noting that RBNZ is not considering any increase in interest rates at present.
Further headlines included:
Monetary policy to remain stimulatory
RBNZ remains vigilant in watching price setting
Monetary policy will help boost GDP, inflation
Near-zero inflation mostly due to tradables
Evidence of weaker demand would prompt consideration of lower interest rates
Rising currency as prices fall 'is unwelcome'
Timing of future adjustments in rates will depend on evolution of inflationary pressures
Below 0.7610, according to Jim Langlands, Founder at FXCharts, means that we should "head back into the consolidation zone, where further choppy trade would seem likely ahead of 0.7585 (200 HMA) and 0.7530 (38.2%)", Jim said.
RBNZ assistant Gov McDermott has crossed the wires, noting that RBNZ is not considering any increase in interest rates at present.
Further headlines included:
Monetary policy to remain stimulatory
RBNZ remains vigilant in watching price setting
Monetary policy will help boost GDP, inflation
Near-zero inflation mostly due to tradables
Evidence of weaker demand would prompt consideration of lower interest rates
Rising currency as prices fall 'is unwelcome'
Timing of future adjustments in rates will depend on evolution of inflationary pressures