Note: This section contains information in English only."There wasn't any news of substance overnight to move markets and the day ahead of the Reserve Bank (rate decision) you would expect the kiwi would be quiet."
– Patrick Harker, Westpac Banking Corp (based on New Zealand Herald)
Pair's Outlook
[ANNOUNCE]The New Zealand Dollar stayed calm against the US Dollar during the first half of Wednesday's trading session.[/ANNOUNCE] The reason for that was the fact that the markets were expecting the rate decision of the Reserve Bank of New Zealand, which was due to be announced at 20:00 GMT. From a technical perspective, the currency exchange rate traded almost flat around the weekly PP, and it could be clearly seen that the technical level is being ignored due to the strength of the upcoming fundamental data release.
Traders' Sentiment
Traders remain largely bearish on the pair, as 71% of trader open positions are short. Meanwhile, 66% of trader set up orders are to sell the New Zealand Dollar in favor for the Greenback.
Wed, 08 Feb 2017 15:25:32 GMT
Source: Dukascopy Bank SA
– Patrick Harker, Westpac Banking Corp (based on New Zealand Herald)
Pair's Outlook
[ANNOUNCE]The New Zealand Dollar stayed calm against the US Dollar during the first half of Wednesday's trading session.[/ANNOUNCE] The reason for that was the fact that the markets were expecting the rate decision of the Reserve Bank of New Zealand, which was due to be announced at 20:00 GMT. From a technical perspective, the currency exchange rate traded almost flat around the weekly PP, and it could be clearly seen that the technical level is being ignored due to the strength of the upcoming fundamental data release.
Traders' Sentiment
Traders remain largely bearish on the pair, as 71% of trader open positions are short. Meanwhile, 66% of trader set up orders are to sell the New Zealand Dollar in favor for the Greenback.