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Jan 24 - 05:55 PM

NZD/USD - Hovers Near 5-Month High On Higher Than Expected CPI

By Krishna K  —  Jan 24 - 05:10 PM
  • NZD/USD to remain bid on dips after closing +0.3% Tue on hot inflation data

  • New Zealand Q4 CPI rises 1.4% q/q, 7.2% y/y versus 1.3% & 7.1% expected

  • Will cement expectations of 50bps Feb hike to 4.75%; peak expected near 5.3%

  • Waning global recession fears, optimism of a less aggressive Fed support

  • Tue range 0.6464-0.6525; caution ahead of Fed rate decision next week caps

  • Resistance 0.6530 Jan 18 high, break opens 0.6575; support 0.6465-70, 0.6440

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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