NZD/USD awaits further data to propel higher - ANZ
|Analysts at ANZ offered a snapshot of the NZD performance and rates market.
Key Quotes:
"The NZD tested topside resistance last night against the USD, AUD and GBP. A decent run of domestic data over the next week could well propel it higher to start 2018.
The USD remaining on the back foot is also influential.
With trade tensions suggested as one of the reasons for China to hold less US debt overnight, currency moves in 2018 won’t solely be about where the best returns are on offer either.
The re-negotiation of NAFTA is the first cab of the rank to test what the US administration means by ‘fair trade’.
Rates: Yields pushed higher in the US overnight, but there was further spread compression at the long-end for Australasian rates too. Even so, the local curve will still face steepening pressure today."
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