FXStreet (Delhi) – Research Team at BNZ, suggest that inspite of the recent rally in NZD, we find that NZD is still likely to fall, USD likely to rise, volatility will remain high, but our overall conviction is low.
Key Quotes
“NZD/USD’s rally through 0.66 comes courtesy of a remarkable turnaround in risk sentiment. The recent disappointments in US data (non-farm payrolls, in particular) have given succour to the view that US rates will remain low for a little while longer. The market might have its rose-tinted glasses on right now, but we wonder how long it can last. It is a genuine open question, and the implications for currencies are hotly debated.”
(Market News Provided by FXstreet)