The New Zealand dollar tried to recover but was hit by the RBNZ. Apart from the bi-weekly GDT auction, the all important GDP release stands out. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD.
The central bank not only cut rates but hinted about more cuts to come. In addition, it maintained its worries about the currency’s strength despite the big falls seen of late. This doesn’t bode well for the kiwi. In the US, we had positive job numbers coming from JOLTs alongside worrying consumer sentiment.
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