FX News

FX Update: NZD gets oversold

Market Overview


  • The US Fed are expected to hold rates at their meeting this week, the ECB cuts.
  • We see downside risk to USD cross currencies as the Fed remains on the sidelines for longer. Alas this will boost the USD.
  • US Non-Farm Payroll prints well above expectations with 172,000 new jobs reported in May.
  • ANZ Bank predicts the RBNZ to cut rates in February 2025 not later in May as incoming data reports of a weaker local economy.
  • The Australian Dollar (AUD) has been the strongest currency this week while the Japanese Yen (JPY) has been the weakest traded currency.
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