NZD/USD: The New Zealand Dollar opens sharply lower on Wednesday at 0.6910 after weaker than expected U.S. consumer confidence data released overnight took the wind out of the sails of higher yielding currencies and riskier assets. The kiwi was unable to hang onto the recent gains above US70 cents and declined gradually during the New York session to a low of 0.6890 as signs the global recovery may slow weakened demand for commodity-linked currencies. Meanwhile, the kiwi is down from 2-year highs against the Euro and opens at 0.5100.
- I expect a range today in the NZD/USD rate of 0.6875 to 0.6945
skip to main |
skip to sidebar
Forex Daily Commentary and Technical Analysis from experienced independent currency trader.
Labels
- Australian Dollar (24)
- Canadian Dollar (7)
- Euro (15)
- Great Britain Pound (29)
- Japanese Yen (7)
- Majors (6)
- New Zealand Dollar (21)
- United States Dollar (23)
No comments:
Post a Comment