NZD/USD stable in 0.6725 area after Thursday/Friday’s APac session drop, next week’s Fed meeting & NZ CPI data eyed By Frank_Macro NZDUSD RBNZ Inflation Fed
ng all the way back to mid-December, NZD/USD has stabilised in the 0.6725 area. The pair broke below the uptrend during Thursday’s US session ason Wall Street declined, which at the time weighed broadly on risk assets such as NZD. Though US equities have continued to decline on Friday, a sharp drop in US bond yields has dampened the safe-haven appeal of the US dollar, shielding NZD/USD from further losses.
Whilst that might be enough to give NZD a temporary lift, the currency will as usual trade mostly as a function of USD flows and. It's been a bumpy start to the Q4 US earnings season – Netflix, the first major US tech company to report, is down over 20% on the day after Thursday’s earnings release – and this may continue to weigh on NZD.
, which is down just over 1.0% on the week from above 0.6700, will test and perhaps even break below 0.6700 in the coming week.
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