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"The government's preferred position is not to be stimulatory. We want to get back to surplus. We think the private sector can pick up a lot of the slack and is going to."
- John Key, PM of New Zealand (based on Bloomberg)
Pair's Outlook
Pair transited in to bearish sentiment which is expected to last until the pair reaches the 0.8098 level, which it tried to breach 4 days on its way up last week. It is possible that after this level the pair will devalue as fast as it appreciated last week and will reach 0.8005 in next few days after the event.
Traders' SentimentAt the moment, amount by which short traders outweighs long traders decreased to 4% from 6% yesterday. However, in the range of 100 pips from current price, amount of sell orders exceeds buy orders by 10% suggesting heighten bearish sentiment in the future.
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