The New Zealand dollar managed to trade higher, enjoying some calm in markets. The bi-weekly dairy auction is the key event Here is an analysis of fundamentals and an updated technical analysis for NZD/USD.
The New Zealand dollar had the most muted reaction to the global gloom that saw commodity currencies sell off sharply. Its Australian and Canadian peers fared worse. When the mood improved, the kiwi gained. Also the mood in New Zealand improved with a stronger ANZ Business Confidence read. In the US, data was very disappointing, with a very poor jobs report. This doesn’t necessary mean a rise of the kiwi as it draws dark clouds on the global economy.
Read the rest of the article NZD/USD Forecast – Oct. 5-9