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Weakens On Softer Inflation Data

NZD

NZD/USD has tracked weaker in recent dealings. The pair back to 0.6110/15, off around 0.30% versus Tuesday NY closing levels. Session lows rest at 0.6110.

  • Recent lows have come in around the 0.6105 level, so this level is likely to watched on the downside.
  • Broader USD sentiment has stabilized somewhat, although NZD is clearly underperforming AUD.
  • Earlier NZ stats data saw a number of local banks revise down their inflation forecasts for Q4. This follows stats NZ publishing selected price indices for Nov (see this BBG link).

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