FX News

NZD/USD Transfer

As we predicted the New Zealand Dollar (NZD) hasn’t been able to hold above 0.6000, reversing lower over 1 cent against the US Dollar (USD) in overnight trading back to 0.5930. US CPI y/y for September came in hot at 3.7% vs 3.6% expected, rallying the greenback hard against most crosses. The rebound in inflationary pressures confirmed with some suggesting earlier it was a short-term gig. Markets reacted by sending treasury yields higher, the US Dollar index was up nearly 1% while US equities slumped by similar margins. The upshot is, this may strengthen chances of the Fed raising rates at their 2 Nov meeting, it would be a bold move. With the pair trading below the 100-day moving average we may see further weakening in the kiwi.

The current interbank midrate is: NZDUSD 0.5920

The interbank range this week has been: NZDUSD 0.5918- 0.6054






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