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Aug 30 - 11:55 PM

NZD/USD - Settles Around 0.7020 After Sudden Spike To 0.7053

By John Noonan  —  Aug 30 - 09:36 PM
  • NZD/USD spiked to 0.7053 after opening around 0.7000

  • Talk in the market a 1.0400 barrier in AUD/NZD was knocked out

  • Stops in AUD/NZD were triggered down to a 16 month low at 1.0348

  • NZD/USD has settled back around 0.7023 and the AUD/NZD around 1.0385

  • Diverging central bank expectations weighing on AUD/NZD

  • Declining number of daily COVID cases in NZ increase chance of RBNZ hike nW9N2OR000

  • Market pricing in 87% chance of an October RBNZ hike according to RBNNZWATCH

  • NZD/USD resistance is at the 100-day MA at 0.7085

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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