The New Zealand dollar had its time in the sun and advanced very nicely. The inflation data is the most important release. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD.
The NZIER Business Confidence plunged to negative territory: -14 points, showing a gloomy mood in Q3. However, milk prices continued rising, this time by 9.9% and the kiwi certainly took advantage of this. In the US, the situation seems OK but doubts continue regarding the timing of the rate hike.
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