Stocks rebound
Consumer confidence was better and the NZDUSD raced higher in celebration of risk on (I guess).
The NZDUSD has been in a funk all month long with the month long range of 220 pips. This is the lowest range for a month since 2007. Last week that range was increased on a move to new month low, but momentum faded and a move higher ensued. Is there time for an extension higher? Why not?