NZD/GBP Transfer

ByDragana My Engine Lab

UK PMI came in strong at 53.2 vs 51.2 overnight but Manufacturing PMI weakened to 44.6 against forecasts of 47.3. This as well as a bout of “risk on” has seen the New Zealand Dollar (NZD) soften from 0.4445 (2.2490) at the close of the week to 0.4430 (2.2570) this morning. Key data this week on the economic calendar is UK CPI y/y with expectations of a small drop from 3.0% to 2.9%, the news could push the kiwi lower.

Current Level: 0.4429
Resistance: 0.4470
Support: 0.4395
Last Weeks Range: 0.4418- 0.4490

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