Forex news for NY trading on February 8, 2017
In other markets:
– US stocks are mixed with the Nasdaq up 0.15%, the S&P little changed and the Dow down -0.18%
The RBNZ kept rates unchanged at 1.75% but reiterated that there are a lot of global "uncertainties" and "policy may need to adjust accordingly". The central bank also reminded traders in the statement that "a decline in the exchange rate is needed". The "dovish" overtones sent the NZD lower against all the major currencies. The NZDUSD fell to a support area defined by recent lows (see post here) between 0.7236-46. A move below that area should solicit more downside with a move toward the 0.7178 (38.2% of the move up from the December 23 low, a viable target. A move back above the 200 hour MA and broken trend line at 0.72932 would not be welcomed by sellers (risk for shorts now).
Forexlive Americas forex news wrap: RBNZ statement sends the NZD lower
