Australian and New Zealand dollars are leading the move against the US dollar - BBH
|Research Team at BBH, notes that the Australian and New Zealand dollars are leading the move against the US dollar today (up to ~0.7% and 0.8% respectively).
Key Quotes
“The driving force is not Fed expectations, but a greater sense that the RBA is in no hurry to cut interest rates and that an RBNZ rate cut next month is near a done deal that had been discounted. The Aussie is having another run at its nemesis near $0.7700 that has blocked the upside over for several months. Slightly stronger than expected CPI helped the Kiwi has come up to test the 20-day moving average (~$0.7200) and a retracement objective of the nearly five-cent decline since early-September ($0.7210). A break could spur a move toward $0.7260-$0.7300. Consumer prices rose 0.2% in Q3. The median guesstimate was flat after a 0.4% rise in Q2. The year-over-year rate also stands at 0.2%. It was expected to ease to 0.1%. Kiwi is sitting just below its highs ahead of the dairy auction.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.