21 May 2015
NZD/USD: Consolidating pressures on 0.73 handle
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7335 with a high of 0.7340 and a low of 0.7292.
NZD/USD is up through the 0.73 handle again, denying the bears while the US data disappointed on the US session. First up we had the Markit Manufacturing PMI (May) and this was a miss of 53.8 vs 54.5 expected as so was the Philadelphia Fed Manufacturing Survey (May). This arrived at at 6.7 vs 8.0 consensus. Initial jobless claims were also disappointing with 274k vs 271 expected, and worse than previous at 264k.
For New Zealand, we are quiet in the day ahead in to the close for the week and unable to really reflect back on anything new considering the NZ budget for 2015-16 was generally ignored by the market yesterday. This is because there were no real surprises to the underlying credible plan to return to surplus, leaving the government in a strong position, as explained analysts at TD Securities. Technically, NZD/USD is consolidating the downside from pressures of the decent from 0.7563 on 13th May business where the rally 0.7388 and EMA 200 commenced.
NZD/USD is up through the 0.73 handle again, denying the bears while the US data disappointed on the US session. First up we had the Markit Manufacturing PMI (May) and this was a miss of 53.8 vs 54.5 expected as so was the Philadelphia Fed Manufacturing Survey (May). This arrived at at 6.7 vs 8.0 consensus. Initial jobless claims were also disappointing with 274k vs 271 expected, and worse than previous at 264k.
For New Zealand, we are quiet in the day ahead in to the close for the week and unable to really reflect back on anything new considering the NZ budget for 2015-16 was generally ignored by the market yesterday. This is because there were no real surprises to the underlying credible plan to return to surplus, leaving the government in a strong position, as explained analysts at TD Securities. Technically, NZD/USD is consolidating the downside from pressures of the decent from 0.7563 on 13th May business where the rally 0.7388 and EMA 200 commenced.