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NZD/USD ran out of steam ahead of its 50-DMA...>
KIWI
KIWI: NZD/USD ran out of steam ahead of its 50-DMA ($0.6598), after stronger
than exp. headline NZ CPI pushed the rate higher. Many attributed the strong
headline to transitory factors and suggested that the RBNZ will be happy to look
through the release.
- The RBNZ's own sectoral inflation model was unch. on a rounded basis, holding
steady at 1.7% Y/Y in Q3.
- The rate last deals at $0.6568, which represents the pair's 21-DMA. Bulls will
look for the level to hold so that they can resume a challenged on the session
highs & aforementioned 50-DMA.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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