FX News

NZD/EUR Transfer:

Stock indices turned positive Monday closing higher and taking the New Zealand Dollar (NZD) higher to 0.5760 (1.7360) from 0.5700 (1.7540). The kiwi gave back gains into Tuesday however to 0.5720 (1.7485). UK political chaos has set the scene of late in the cross, overnight tax change rhetoric setting the tone for a better performing EUR. This morning’s NZ CPI released at 2.2% q/q, y/y 7.2% vs forecast 7.3% spiking the NZD to 0.5765 (1.7350) post release as the data highlighted the central bank of NZ could be a way off easing back on interest rate rises. Further downside bias in the cross is predicted over the rest of the week.

Current Level: 0.5745 (1.7406)
Resistance: 0.5830 (1.7560)
Support: 0.5695 (1.7140)
Last Weeks Range: 0.5717-0.5820 (1.7181-1.7489)

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