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TDUX
Aug 12 - 08:55 PM

NZD/USD - Drifts Lower After US CPI Fails To Move FOMC Dial

By James Connell  —  Aug 12 - 07:43 PM

• NZD/USD -0.4% from Wed 0.58835 high, at risk of break below 0.5850 support

• Release of RBNZ Q3 expectations survey 0300 GMT Thur will garner attention

• U.S. inflation data as expected, Fed rate hike conversation remains live

• Iran states no progress on effort to reach permanent ceasefire with U.S.

• Futures pricing currently implies 87.7% chance of 25 bps RBNZ hike Sep 2

• Range NZ 0.5856-60, support 0.5850 0.5627, resistance 0.5990-95 0.60925
NZD Daily 55-DMA


(James Connell is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters
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